This paper provides evidence on abnormal returns of Portuguese privatization public offerings for the period from 1989 to 2001. The study explores the abnormal performance of a comprehensive sample of Portuguese privatization transactions and investigates the determinants of the observed price behavior.
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http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID692027_code114544.pdf?abstractid=692027&mirid=1