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基于所搜集的1998年到2000年的数据,本文从理论和实证角度考察了私有化的决定因素。理论模型清楚讨论了银行在决定私有化中的角色。我们发现改进的人力资本和银行经理层激励和/或弱化的银行流动性限制导致私有制。我们也分析了在何种情况下,倒闭将是一种更好的办法。并且实证证据和我们模型的预期相一致。
Based on the collected data from 1998 to 2000, this paper examines the determinants of privatization both theoretically and empirically. The theoretical model clearly discusses the bank’s role in deciding on privatization. We find that bank liquidity constraints that result from improved human capital and bank managers’ incentives and / or weaknesses lead to private ownership. We also analyzed under what circumstances a collapse would be a better solution. And the empirical evidence is in line with the expectations of our model.