Artigo em revista científica Q1
From market to state: wealth transfers in the Portuguese nationalisations of the 1970s
Rui Alpalhão (Alpalhão, R.);
Título Revista
Financial History Review
Ano
2012
Língua
Inglês
País
Reino Unido
Mais Informação
Scopus

N.º de citações: 0

(Última verificação: 2021-09-12 11:11)

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Abstract/Resumo
In the second half of the 1970s, following the so-called ‘Carnation Revolution’ and when a global wave of privatisations started, the Portuguese government nationalised most of the companies listed on the Lisbon Exchange. A few years later the shareholders of nationalised companies were paid indemnities. The nationalisations radically changed the Portuguese corporate scene and led to very important wealth transfers. Contrary to what is usually assumed, we conclude that this transfer was detrimental to holders of large shareholdings, but favourable to small shareholders and, on average, akin to fair compensation based on market exchange.
Agradecimentos/Acknowledgements
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Palavras-chave
Indemnities,Nationalisations,Wealth transfers
  • Economia e Gestão - Ciências Sociais
  • História e Arqueologia - Humanidades