Determinants of Privatization Prices

Generating government revenue is a common objective in privatization. This paper asks: what determines privatization prices? Pursuing this query helps resolve the current controversies about the bearing of speed and the role for government actions prior to privatization. The data, gathered from primary sources, encompass 361 privatized Mexican companies in 49 four-digit industry codes. The determinants of auction privatization prices are divided into three groups: (1) company performance and industry parameters; (2) the auction process and its requirements; and (3) the prior restructuring actions taken by the government. Controlling for company and industry effects reveals the significant impact of the costs and characteristics of the labor force. Minority control packages carry large discounts. Auction requirements that allow foreign investors result in higher sale premia, while restrictions constraining participation or payment forms reduce net prices. The speed of privatization substantially influences net prices: the longer it takes to put the company on the block, the more severe the deterioration in performance, and the lower the premium obtained. Pre-sale reductions in labor force, and particularly the firing of CEOs, lead to significantly higher premiums. Debt absorption, investment, and performance improvement programs do not increase the net price, while de-investment measures prove more beneficial. Overall, the results show increased premia for government actions that stimulate bidder participation and expedite the privatization process.

The Women of the Bauhaus Weaving Workshop: Anni Albers\u27 and Gunta Stölzl\u27s Impact

This thesis discusses two female weavers, Gunta Stölzl and Anni Albers, and their critical works from 1920-1935 that shaped Bauhaus weaving and the artistic significance of the medium. Over the course of three chapters, the thesis discusses Stölzl\u27s shift from pictorial to material interests, Albers\u27 themes of mass production and industry, and the women\u27s post Bauhaus years which involved Stölzl blending work and art and Albers expanding the capabilities and fine art presence of textile

The differential adsorption of silanes from solution onto model E-glass surfaces using high resolution XPS

γ-aminopropyltriethoxysilane (APS), γ-mercaptopropyltrimethoxysilane (MPS) and their mixture have been adsorbed onto acid-treated model E-glass fibres from aqueous solution with different concentrations. High resolution X-ray photoelectron spectroscopy (XPS) has been employed to characterize APS and MPS single silane coatings and the selective adsorption of APS/MPS mixed silane coating. It is found that the Si contribution from the silane can be distinguished from the Si contribution from the acid-treated E-glass fibres by fitting Si2p1/2 and Si2p3/2 peaks with components for CSiO3 and SiO4 environments. The adsorption isotherms of APS and MPS have been obtained by comparing the atomic concentrations of N, S and CSiO3 groups. APS and MPS are equally adsorbed from 0.1% APS/MPS mixed silane solution, however, MPS dominates the deposit on model E-glass fibres to a depth corresponding to the take-off-angle of 45º when it is adsorbed from 0.5% and 1.0% APS/MPS mixed silane solutions

Differentiation of silane adsorption onto model E-glass surfaces from mixed solutions of amino and glycidyl silanes

Mixed silanes are often used as coupling agents in sizings for glass fibres. A technique has been developed which enables the preferential adsorption of a particular silane onto a model E-glass from a mixed aqueous silane solution to be probed. It is shown that γ-Aminopropyltriethoxysilane (APS) is preferentially adsorbed over γ-glycidoxypropyltrimethoxysilane (GPS) onto model E-glass fibres. High resolution X-ray photoelectron spectroscopy (XPS) has been employed to investigate the nature of silane deposits. Differentiation between the hydrolysed silane deposit and the model silica-based glass substrate was achieved by Si2p curve fitting. The extent of total silane adsorption onto model E-glass fibres was determined from the intensity of CSiO3 peak. In the case of APS/GPS mixed silanes, the N1s peak intensity provides the concentration of APS in the deposit. By comparing the relative intensities of the components in the Si2p3/2 and Si2p1/2 peaks for SiO4 and CSiO3 with the intensity of the N1s peak an assessment of differential adsorption proved possible