A Pre and Post Privatization Performance of State Owned Enterprises a Case Study of Privatized Firms in Addis Ababa
| dc.contributor.advisor | Tekalign, Nega (PhD) | |
| dc.contributor.author | Israel, Birhanu | |
| dc.date.accessioned | 2020-02-24T05:45:40Z | |
| dc.date.accessioned | 2023-11-04T07:57:35Z | |
| dc.date.available | 2020-02-24T05:45:40Z | |
| dc.date.available | 2023-11-04T07:57:35Z | |
| dc.date.issued | 2019-11 | |
| dc.description | A Thesis Submitted to School of Graduate Studies of Addis Ababa University in Partial Fulfillment of the Requirements for the Degree of Master of Accounting and Finance | en_US |
| dc.description.abstract | his study evaluates the financial and operating performance of 3 privatized Ethiopian firms, which were privatized during the period 2004-2015. The main objective of the study is to examine whether privatization does improve firms' performance. For that purpose, a wide range of accounting performance measures are used as proxies of performance, and the mean performance is calculated for both pre- and post-privatization periods. Data for this study comes from secondary sources; specifically published annual reports and financial statements of the privatized firms. The sampled firms are drawn from manufacturing, agro – processing subsectors of the Ethiopian economy. The period of analysis covers 5 years before, and 5 years after privatization. To test the predictions, the researcher follows the techniques of Megginson et al. (1994) in order to determine post privatization performance changes. The researcher calculate the mean value of each variable for each firm over the pre and post privatization periods, then use the T- test and the Wilcoxon sign rank test as principal methods of testing for significant changes in the variables. Results obtained from this study are mixed. Whereas some companies in the sample show improvements in some indicators, other companies have shown decline in some indicators after privatization. The empirical results of this study indicate that there is no significant increase in profitability after privatization at some sample, however, the results showed that there is a significant increase in operating efficiency, capital expenditures and output achieved by all privatized firms following privatization. Conversely, there is a significant decrease in employment while leverage has been decreased significantly following privatization for the two firms. However, in spite the mixed results, the overall picture shows improvement in performance indicators for all the firms in the sample. Overall, the study may conclude that the results provide positive empirical evidence that privatization has caused significant improvement by all indicators. | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/20672 | |
| dc.language.iso | en | en_US |
| dc.publisher | A.A.U | en_US |
| dc.subject | Ethiopia | en_US |
| dc.subject | Firms Performance | en_US |
| dc.subject | Privatization | en_US |
| dc.subject | State-Owned Enterprise | en_US |
| dc.title | A Pre and Post Privatization Performance of State Owned Enterprises a Case Study of Privatized Firms in Addis Ababa | en_US |
| dc.type | Thesis | en_US |