Abstract

ARIAS-BELLO, Martha Liliana  and  GOMEZ-VILLEGAS, Mauricio. PROCESSES OF CORPORATIZATION AND PARTIAL PRIVATIZATION OF STATE-OWNED COMPANIES: A LITERATURE REVIEW. Innovar [online]. 2022, vol.32, n.85, pp.171-185.  Epub July 28, 2022. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v32n85.101193.

This work seeks to identify and analyze quantitative empirical studies addressing the effects of corporatization and partial privatization processes on the financial performance of state-owned enterprises. Theoretical perspectives, methodological approaches, and the variables used for measuring business performance were examined. Besides, the findings of studied works related to the processes of corporatization and partial privatization of this type of companies were synthesized. Additionally, we performed a systematic review of the literature of 31 research works, selected from a sample of 101 articles identified from the Scopus and Web of Science (WOS) databases. As a result, it was identified that research on corporatization processes shows greater theoretical diversity than studies on partial privatization processes. Our findings also show a consensus on the benefits of corporatization processes, although there is no agreement on the causes that explain said benefits in the performance of state-owned enterprises. In contrast, there is no consensus on the effects of partial privatization processes over business performance.

Keywords : Corporatization; financial performance; state-owned enterprises; theoretical and methodological approaches; partial privatization.

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