Privatization & Stakeholders: Proposed Framework for Emerging Markets

Abstract

The study aims to provide a proposed framework to support the privatization operations in emerging markets; In line with attitude in many countries in Africa, Asia and Eastern Europe and Latin America toward more privatization operations for support of the economic reform processes; the study suggest that the privatization process involving five stages; These include "status review", "domestic & international experience review", "options & choosing a methodology", "legal and regulatory adjustment" and "creating the special unit to support privatization" to support sustainable development through creating value for society; The study believes that privatization has related to the characteristics of the business environment. So, that has success according to positive interaction with the domestic and international business environment; in addition to the benefits of stakeholders have an impact on privatization successful, that showing the agency's problem; the study believes that gaining stakeholder support is the best way to minimize the agency's problem.

Keywords: state-owned enterprises, Privatization, Emerging Markets, Stakeholders, Agency's Problem