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Study Finds Employee Ownership Improves Performance of Newly Privatized Businesses
The Beyster Institute, UC San Diego 
Feb. 4, 2008
Excerpt: The authors' conclusion? Privatization per se is not a 'magic bullet.' Where profits and sales efficiency increased for privatized firms, it was due in large part 'to successful training and development programs that were implemented and because employees and managers were urged to gain a more vested interest after gaining options to buy shares in their enterprises.'
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