{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,30]],"date-time":"2026-04-30T19:38:36Z","timestamp":1777577916543,"version":"3.51.4"},"reference-count":14,"publisher":"SAGE Publications","issue":"4","license":[{"start":{"date-parts":[[2004,11,1]],"date-time":"2004-11-01T00:00:00Z","timestamp":1099267200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/journals.sagepub.com\/page\/policies\/text-and-data-mining-license"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Economic and Industrial Democracy"],"published-print":{"date-parts":[[2004,11]]},"abstract":"<jats:p>The aim of this article is to evaluate the impact of measures designed to enhance employee ownership in the context of the Portuguese privatization process. The authors seek to quantify the advantages offered to employees in the bundle of special conditions they were entitled to, using data from 60 privatization operations between 1989 and 1999. The risky decision to buy shares in their own firms sometimes enabled employees to make a good investment, when stock market activity permitted it. In other cases, in spite of the breadth of the potential benets offered to encourage employees, the results associated with these investments were actually negative.<\/jats:p>","DOI":"10.1177\/0143831x04047160","type":"journal-article","created":{"date-parts":[[2004,10,8]],"date-time":"2004-10-08T18:13:03Z","timestamp":1097259183000},"page":"581-605","source":"Crossref","is-referenced-by-count":0,"title":["Privatization in Portugal: Employee Owners or Just Happy Employees?"],"prefix":"10.1177","volume":"25","author":[{"given":"Lu\u00eds Moura","family":"Ramos","sequence":"first","affiliation":[]},{"given":"Rita","family":"Martins","sequence":"additional","affiliation":[{"name":"University of Coimbra"}]}],"member":"179","published-online":{"date-parts":[[2004,11,1]]},"reference":[{"key":"atypb1","volume-title":"Relat\u00f3rio do Conselho de Administra\u00e7\u00e3o","author":"Banco de Portugal","year":"1989"},{"key":"atypb2","unstructured":"Bolsa de Valores de Lisboa (1989-99) Publica\u00e7\u00f5oes e\n                servi\u00e7os; at: www.bvl.pt (accessed April 2001)."},{"key":"atypb3","unstructured":"Barreiros, Jos\u00e9 Artur and Lu\u00eds Oliveira (1997)\n                \u2018O Processo de (Re)Privatiza\u00e7\u00f5es e o Impacte no\n                Mercado Accionista da BVL\u2019, Estudos e Artigos da Bolsa de Valores de\n                Lisboa. Lisbon: Bolsa de Valores de Lisboa."},{"key":"atypb4","unstructured":"Carvalho, Irene (1999) Impacte das Privatiza\u00e7\u00f5es no\n                Mercado de Capitais - 1996-1\u00ba semestre de 1999, Documento de Trabalho no.\n                12. Lisbon: Bolsa de Valores de Lisboa."},{"key":"atypb5","unstructured":"Correia, Luis Brito (1996) Participa\u00e7\u00e3o dos\n                Trabalhadores e Emigrantes no Capital das Empresas Privatizadas, Lisbon:\n                Minist\u00e9rio das Finan\u00e7as."},{"key":"atypb6","unstructured":"DE (Departamento de Estat\u00edstica do Minist\u00e9rio para a\n                Qualifica\u00e7\u00e3o e o Emprego (1989-95) Quadros de Pessoal. Lisbon:\n                Ministerio do Emprego e Seguranca Social."},{"key":"atypb7","unstructured":"DETEFP (Departamento de Estatistica do Trabalho, Emprego e\n                Forma\u00e7\u00e3o Pro. ssional) (1996-8) Quadros de Pessoal. Lisbon:\n                Minist\u00e9rio do Emprego e Seguranca Social."},{"key":"atypb8","unstructured":"DGEP (Direc\u00e7\u00e3o Geral de Estudos e Previs\u00e3o\n                do Minist\u00e9rio das Finan\u00e7as) (1999)\n                Privatiza\u00e7\u00f5es e Regula\u00e7 \u00e3o - a\n                experi\u00eancia portuguesa. Lisbon: Ministerio das Financas."},{"key":"atypb9","unstructured":"GAFEEP (Gabinete para An\u00e1lise e Financiamento do Estado das\n                Empresas P\u00fablicas) (1995) Privatiza\u00e7\u00f5es em\n                Portugal - Uma Reforma Estrutural. Lisbon: Ministerio das Financas."},{"key":"atypb10","unstructured":"Martins, Maria Rita Vieira (1997)\n                \u2018Privatiza\u00e7\u00f5es: Objectivos e Modalidades - uma\n                abordagem centrada no caso portugu\u00eas\u2019, Faculdade de Economia da\n                Universidade de Coimbra, disserta\u00e7\u00f5o de mestrado."},{"issue":"4","key":"atypb11","first-page":"79","volume":"11","author":"Moura Ramos, Lu\u00eds","year":"1999","journal-title":"Journal of Employee Ownership, Law and Finance"},{"key":"atypb12","doi-asserted-by":"publisher","DOI":"10.4324\/9780203276679"},{"key":"atypb13","volume-title":"Privatisation: An Economic Analysis","author":"Vickers, John","year":"1988"},{"key":"atypb14","unstructured":"Wright, Vincent (1993) Les Privatisations en Europe - programmes et\n                proble`mes. Poitiers: Actes Sud."}],"container-title":["Economic and Industrial Democracy"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/0143831X04047160","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/0143831X04047160","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T19:32:37Z","timestamp":1777404757000},"score":1,"resource":{"primary":{"URL":"https:\/\/journals.sagepub.com\/doi\/10.1177\/0143831X04047160"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2004,11]]},"references-count":14,"journal-issue":{"issue":"4","published-print":{"date-parts":[[2004,11]]}},"alternative-id":["10.1177\/0143831X04047160"],"URL":"https:\/\/doi.org\/10.1177\/0143831x04047160","relation":{},"ISSN":["0143-831X","1461-7099"],"issn-type":[{"value":"0143-831X","type":"print"},{"value":"1461-7099","type":"electronic"}],"subject":[],"published":{"date-parts":[[2004,11]]}}}