Privatization and firm performance: The case of Libya

This study specially addresses the economic aspects of the privatization programme in Libya. The main objectives of this study are to explore the effectiveness of the privatization programme in the industrial companies; to evaluate the privatization effects on firm performance in the industrial comp...

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Main Author:	N. Idbea, Majda Al Mabrok
Format:	Thesis
Language:	eng
Published:	2015
Subjects:	HB Economic Theory
Online Access:	https://etd.uum.edu.my/5307/1/s92741.pdf
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id	my-uum-etd.5307
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng
advisor	Mohd Jali, Mohd Razani Hassan, Sallahuddin
topic	HB Economic Theory HB Economic Theory
spellingShingle	HB Economic Theory HB Economic Theory N. Idbea, Majda Al Mabrok Privatization and firm performance: The case of Libya
description	This study specially addresses the economic aspects of the privatization programme in Libya. The main objectives of this study are to explore the effectiveness of the privatization programme in the industrial companies; to evaluate the privatization effects on firm performance in the industrial companies; and to identify the important obstacles that hinder the privatization programme. The firms’ performances were evaluated using both primary and secondary data analyses. Questionnaires were used to collect primary data. Secondary data were collected from the financial reports of the selected privatized firms for the period 2002-2010. Two econometric analyses; mean comparison and traditional panel models were employed in the empirical analysis. In the mean comparison analysis, the performances of state-owned enterprises were examined. For traditional panel analysis, the fixed effects model and the random effects model were employed to analyze the effect of the privatization programme on firm performances. Modelling of the traditional panel models involved two dependent variables (operational efficiency and profitability level) and six independent variables (productivity, ownership structure, employment, capital, privatization and liquidity). The results of the field survey show that managers and workers were in favour of the privatization programme and privatization in Libya has faced minor difficulties. The results of the mean comparison analysis indicate a significant difference of mean values in pre-privatization and post-privatization. The mean values of profitability level, operating efficiency, capital, ownership structure and productivity in the post-privatization are higher than in pre-privatization. The mean value of employment in post-privatization is lower than in pre-privatization. The results of panel analysis show that privatization and employment have positive and significant effects on operational efficiency and the profitability level of privatized firms; ownership structure has significantly improved privatized firms’ efficiency, but has no effect on profitability level; and liquidity has no statistically significant effect on privatized firm’s operating efficiency and profitability level. The privatization programme in Libya has improved the performance and the working conditions of privatized firms
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	N. Idbea, Majda Al Mabrok
author_facet	N. Idbea, Majda Al Mabrok
author_sort	N. Idbea, Majda Al Mabrok
title	Privatization and firm performance: The case of Libya
title_short	Privatization and firm performance: The case of Libya
title_full	Privatization and firm performance: The case of Libya
title_fullStr	Privatization and firm performance: The case of Libya
title_full_unstemmed	Privatization and firm performance: The case of Libya
title_sort	privatization and firm performance: the case of libya
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2015
url	https://etd.uum.edu.my/5307/1/s92741.pdf
_version_	1747827904719355904
spelling	my-uum-etd.53072016-04-12T07:50:59Z Privatization and firm performance: The case of Libya 2015 N. Idbea, Majda Al Mabrok Mohd Jali, Mohd Razani Hassan, Sallahuddin Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HB Economic Theory HF5549-5549.5 Personnel Management. Employment This study specially addresses the economic aspects of the privatization programme in Libya. The main objectives of this study are to explore the effectiveness of the privatization programme in the industrial companies; to evaluate the privatization effects on firm performance in the industrial companies; and to identify the important obstacles that hinder the privatization programme. The firms’ performances were evaluated using both primary and secondary data analyses. Questionnaires were used to collect primary data. Secondary data were collected from the financial reports of the selected privatized firms for the period 2002-2010. Two econometric analyses; mean comparison and traditional panel models were employed in the empirical analysis. In the mean comparison analysis, the performances of state-owned enterprises were examined. For traditional panel analysis, the fixed effects model and the random effects model were employed to analyze the effect of the privatization programme on firm performances. Modelling of the traditional panel models involved two dependent variables (operational efficiency and profitability level) and six independent variables (productivity, ownership structure, employment, capital, privatization and liquidity). The results of the field survey show that managers and workers were in favour of the privatization programme and privatization in Libya has faced minor difficulties. The results of the mean comparison analysis indicate a significant difference of mean values in pre-privatization and post-privatization. The mean values of profitability level, operating efficiency, capital, ownership structure and productivity in the post-privatization are higher than in pre-privatization. The mean value of employment in post-privatization is lower than in pre-privatization. The results of panel analysis show that privatization and employment have positive and significant effects on operational efficiency and the profitability level of privatized firms; ownership structure has significantly improved privatized firms’ efficiency, but has no effect on profitability level; and liquidity has no statistically significant effect on privatized firm’s operating efficiency and profitability level. The privatization programme in Libya has improved the performance and the working conditions of privatized firms 2015 Thesis https://etd.uum.edu.my/5307/ https://etd.uum.edu.my/5307/1/s92741.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abdo, S. (1994). 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