Three decades of privatization suggest all of the following except:
a. Privatization to insiders helps improve the performance of small firms.
b. In large corporations privatization to insiders, without external governance pressures, is hardly conducive for needed restructuring.
c. Outside ownership and control, preferably by blockholders, funds, foreigners, and/ or banks, are more likely to facilitate restructuring.
d. Such outside ownership and control does not happen frequently because incumbent managers do not necessarily welcome such outside "intrusion."
e. When outside investors such as institutional investors do come in, they fail to assert their power.

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The Answer of Three decades of privatization suggest all of the following except:
a. Privatization to insiders helps improve the performance of small firms.
b. In large corporations privatization to insiders, without external governance pressures, is hardly conducive for needed restructuring.
c. Outside ownership and control, preferably by blockholders, funds, foreigners, and/ or banks, are more likely to facilitate restructuring.
d. Such outside ownership and control does not happen frequently because incumbent managers do not necessarily welcome such outside "intrusion."
e. When outside investors such as institutional investors do come in, they fail to assert their power.

Three Decades of Privatization Suggest All of the Following Except