Privatization in Kazakhstan: success or failure?
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Date
2018-11-25
Authors
Kaliyeva, Ainura
Tashenov, Nurlan
Temirkhanova, Nazira
Journal Title
Journal ISSN
Volume Title
Publisher
Nazarbayev University Graduate School of Public Policy
Abstract
The current research has been conducted with the aim to determine whether Kazakhstan should continue its privatization program by providing information and evidences on its outcomes. Moreover, the objective was to form a set of recommendations based on produced analysis. The research question has been formed as follow: Should Kazakhstan continue its privatization program?
The research question has been answered using combined analysis of primary and secondary data from the selected companies. The questionnaire has been used as a basis of primary data analysis and financial position analysis as a source of secondary data analysis. Respondents have been selected on the basis of convenience sampling method and taken as 20% of total number of employees of each company. The secondary data analysis targeted on acquiring any evidence of shifts in the financial position and performance associated with privatization.
The secondary data analysis results demonstrated that top management of both companies were concentrated more on strengthening the financial positions in the year of privatization and the result display positive trend. The primary data analysis, on the contrary, showed negative effects of privatization on employees of both companies in terms of salary and staff size changes. However, overall perception of privatization as a process by employees was positive. The acquired results led us to a conclusion that Kazakhstan should continue its privatization program. However, the preceding stage of selling out the shares to potential shareholders should include the binding contractual terms that have to take into account the stability and basic needs of a crucial stakeholder group, namely employees.
Description
Keywords
privatization program, Kazakhstan
Citation
Privatization in Kazakhstan: success or failure? Ainura Kaliyeva, Nurlan Tashenov, Nazira Temirkhanova. 2018. Nazarbayev University Graduate School Of Public Policy