An Evaluation Of The Privatization Program In Egypt : Sectoral Analysis

Bekheit, Mohamed Bahaa El Din Mohamed M. M.; Youssef, Asser Hassan

Article Details

An Evaluation Of The Privatization Program In Egypt : Sectoral Analysis

Authors:

Bekheit, Mohamed Bahaa El Din Mohamed M. M. | Youssef, Asser Hassan

Publisher:

جامعة المنوفية - كلية التجارة

Journal:

المجلة العلمية للبحوث التجارية 2018 Vol.5 Issue 4, pp.9-35

Document Type:

Article

Publication Date:

10/2018

Document Language:

English

Document ID (Org No.):

2000992135

Keywords:

Abstract:

 Privatization has been a major political and economic phenomenon over the past few decades, and researchers continue to target it for both theoretical and empirical work. This study will assess the results of the Egyptian privatization program after two decades, through evaluating the financial performance of the Holding Company for Maritime and Land Transportation (HMLT) before and after privatization. Which have been privatized according to Law no 203 of 1991, by evaluating the financial performance of the firm three years pre- and post- privatization (till the end year 2017). To test the study predictions, the study followed the techniques of Megginson et al. (1994) in order to determine post privatization performance changes. For this issue, several statistical techniques, where used such as parametric t-test, the non-parametric Wilcoxon signed-rank test, and Mann-Whitney test are performed. Results obtained from this study were mixed. Whereas some indicators showed improvements, other have shown decline after privatization. Where ROE, ROA, ROS, EBIT and C.R increased; TDTE and TDTA decreased after privatization. However, in spite the mixed results, the overall picture showed improvement in performance for the Privatized firms. The study recommended that, the financial performance indicators, i.e. profitability, leverage, and liquidity ratios are not enough to measure the performance of HMLT. Thus, alternative financial measures such as Data Envelopment Analysis shall be considered by further researchers. A caveat to the finding of this paper is that the privatized firms might need a longer period to reflect moire fully the impact of the privatization program on some of their performance measures.

Article Details

An Evaluation Of The Privatization Program In Egypt : Sectoral Analysis

Authors:

Bekheit, Mohamed Bahaa El Din Mohamed M. M. | Youssef, Asser Hassan

Publisher:

جامعة المنوفية - كلية التجارة

Journal:

المجلة العلمية للبحوث التجارية 2018 Vol.5 Issue 4, pp.9-35

Document Type:

Article

Publication Date:

10/2018

Document Language:

English

Document ID (Org No.):

2000992135

مصر

السياسة الاقتصادية

الخصخصة

المؤشرات الاقتصادية

الأداء المالي

Issues

Article Details

An Evaluation Of The Privatization Program In Egypt : Sectoral Analysis

Authors: Bekheit, Mohamed Bahaa El Din Mohamed M. M. | Youssef, Asser Hassan

Publisher: جامعة المنوفية - كلية التجارة

Journal: المجلة العلمية للبحوث التجارية 2018 Vol.5 Issue 4, pp.9-35

Document Type: Article

Publication Date: 10/2018

Document Language: English

Document ID (Org No.): 2000992135

مصر

السياسة الاقتصادية

الخصخصة

المؤشرات الاقتصادية

الأداء المالي

Issues

Authors:

Bekheit, Mohamed Bahaa El Din Mohamed M. M. | Youssef, Asser Hassan

Publisher:

جامعة المنوفية - كلية التجارة

Journal:

المجلة العلمية للبحوث التجارية 2018 Vol.5 Issue 4, pp.9-35

Document Type:

Article

Publication Date:

10/2018

Document Language:

English

Document ID (Org No.):

2000992135