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Author : David Parker
Publisher :
ISBN 13 : 9780852998144
Total Pages : 41 pages
Book Rating : 4.9/5 (981 download)
Download or read book Assessing the Impact of Privatisation on Company Efficiency written by David Parker and published by . This book was released on 1996 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen Martin
Publisher : Routledge
ISBN 13 : 1134766114
Total Pages : 220 pages
Book Rating : 4.1/5 (347 download)
Download or read book The Impact of Privatization written by Stephen Martin and published by Routledge. This book was released on 1997-02-13 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are resources allocated more efficiently through private ownership than through the public sector? The experiences of eleven newly privatised companies are examined to evaluate this hypothesis. With the Government's pro-privatization policies in place for over a decade, this is a prime time to evaluate theory versus reality.
Author : Stephen Martin
Publisher : Routledge
ISBN 13 : 1134766122
Total Pages : 220 pages
Book Rating : 4.1/5 (347 download)
Download or read book The Impact of Privatization written by Stephen Martin and published by Routledge. This book was released on 1997-02-13 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are resources allocated more efficiently through private ownership than through the public sector? The experiences of eleven newly privatised companies are examined to evaluate this hypothesis. With the Government's pro-privatization policies in place for over a decade, this is a prime time to evaluate theory versus reality.
Author : Stephen Martin
Publisher : Psychology Press
ISBN 13 : 0415142334
Total Pages : 220 pages
Book Rating : 4.4/5 (151 download)
Download or read book The Impact of Privatisation written by Stephen Martin and published by Psychology Press. This book was released on 1997 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade economic policy in the UK and elsewhere has been guided by the belief that resources are used more efficiently in the private sector than under state ownership. Consequently, many formerly state-owned companies have been transferred to the private sector. After surveying the theoretical arguments for and against this hypothesis, this book examines the experience of eleven firms, including British Airways, Rolls-Royce and British Telecom. Various indicators are used to measure each firm's performance before and after privatisation to assess whether this policy has brought about improvements in efficiency. The first four chapters provide background material for the empirical work that follows. Chapter 1 outlines the theoretical arguments for and against the idea that private ownership will be more efficient than state control. Chapter 2 provides brief histories of the eleven organisations studied and chapter 3 discusses how their performance can be measured. Chapter 4 reviews the literature on the relative efficiency of public and private ownership. Chapter 5 considers the impact of privatisation on each of the eleven firms' labour and total factor productivity growth. Chapter 6 performs a similar analysis using two standard accounting ratios (value-added and the rate of profit). Chapter 7 assesses the impact of privatisation on technical efficiency using data envelopment analysis. In chapter 8 the impact of ownership on employment, wage levels and the distribution of business income is considered. The penultimate chapter discusses the restructuring that has followed each company's move into the private sector, and the final chapter summarises the results.
Author : Maria Teresa Bosch
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Effects of Privatisation on Companies' Economic Performance written by Maria Teresa Bosch and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an evaluation of the effects of privatisation on the efficiency of firms in the case of large Spanish State-Owned Enterprises that had been privatised from 1990 onward. The firms' efficiency is approached here by financial-performance indicators, through acknowledging, on the one hand, their shortcomings and, on the other, the advantage of their direct comprehensibility. Unlike other research work that compares pre-post privatisation performance, we 1) make use here of usual economic-performance indicators, though taking into account their hierarchical relationship; 2) take as privatisation moment the point at which control over the firm actually passes from the government to private investors; and 3) work on companies' base data, and exclude all extraordinary and non-operating financial flows. The comparative analysis carried out yields mixed results; most of the evidence points toward the conclusion that the firms' economic performance did not actually improve after privatisation, the only clear exception being of one of the six cases studied here.
Author : Graeme Hodge
Publisher : Routledge
ISBN 13 : 0429966571
Total Pages : 320 pages
Book Rating : 4.4/5 (299 download)
Download or read book Privatization written by Graeme Hodge and published by Routledge. This book was released on 2018-03-09 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contracting out public sector services and divesting public enterprises are reforms that have enjoyed widespread global popularity in recent years. Better services, lower prices and greater accountability are the promises made by politicians, senior executives, and investment companies when functions are moved from the public sector to private enterprise. But in Privatization, Graeme A. Hodge challenges these assumptions. Through an examination of hundreds of international studies on the performance of privatization activities, Hodge demonstrates that privatizing public services is often not the guaranteed panacea portrayed by its political supporters. Importantly, privatization activities can lead to modest gains, but there are also winners and losers in this reform. It therefore deserves far more care and balanced debate than it usually attracts.
Author : Christian Wolf
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (129 download)
Download or read book Privatising National Oil Companies written by Christian Wolf and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study empirically investigates the impact of privatisation on firm performance in the global oil and gas industry, where questions of resource control have regained widespread attention. Using a dataset of 60 public share offerings by 28 National Oil Companies it is shown that privatisation is associated with comprehensive and sustained improvements in performance and efficiency. Over the seven-year period around the initial privatisation offering, return on sales increases by 3.6 percentage points, total output by 40%, capital expenditure by 47%, and employment intensity drops by 35%. Many of our observed performance improvements are already realised in anticipation of the initial privatisation date, accrue over time, and level off after the initial ownership change rather than accelerate. Details of residual government ownership, control transfer, and size and timing of follow-on offerings provide limited incremental explanatory power for firm performance, except for employment intensity. Based on these results partial privatisations in the oil sector might be seen to capture a significant part of the performance improvement associated with private capital markets without the selling government having to cede majority control.
Author :
Publisher :
ISBN 13 :
Total Pages : 300 pages
Book Rating : 4.:/5 (319 download)
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth A. Lanza
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (356 download)
Download or read book The Political Economy of Privatization written by Kenneth A. Lanza and published by . This book was released on 1995 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joaquim Vergés
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Effect of Privatisation on the Economic Performance of Firms written by Joaquim Vergés and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an evaluation of the effects of privatisation on the efficiency of firms in the case of large Spanish State-Owned Enterprises that had been privatised from 1990 onward. The firms' efficiency is approached here by economic performance indicators, through acknowledging their shortcomings but also taking profit from their, some time neglected, advantages. Unlike other research work that compares pre-post privatisation performance, we make use here of usual economic-performance indicators, though taking into account their hierarchical relationship; take as privatisation moment the point at which control over the firm actually passes from the government to private investors; and work on companies' base data, which allows us to obtain performance measures more accurate by excluding all extraordinary and non-operating financial flows. The comparative analysis carried out yields mixed results; most of the evidence points toward the conclusion that the firms' economic performance did not actually improve after privatisation, the only clear exception being one of the six cases studied here.
Download or read book Impact of Privatization written by and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Are resources allocated more efficiently through private ownership than through the public sector? The experiences of eleven newly privatised companies are examined to evaluate this hypothesis.
Author : Paul Cook
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 728 pages
Book Rating : 4.:/5 (318 download)
Download or read book Privatisation in Developing Countries written by Paul Cook and published by Edward Elgar Publishing. This book was released on 2000 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last decades of the 20th century, privatization has been a key policy instrument in the move to more market-based economic systems in all parts of the developing world. Privatization, however, has not necessarily been accompanied by an increase in market competition. Many public utilities have been privatized as monopolies and in addition regulatory systems have been developed to restrict their market power and protect the interests of consumers. This volume brings together a collection of papers that provide theoretical and empirical insights into privatization and regulation, as well as policy perspectives in relation to developing countries.
Author : Anthony Bennett
Publisher : Routledge
ISBN 13 : 1134699271
Total Pages : 315 pages
Book Rating : 4.1/5 (346 download)
Download or read book How Does Privatization Work? written by Anthony Bennett and published by Routledge. This book was released on 2002-09-11 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization has been one of the most important elements of public policy in the last decade and there have been massive transfers of ownership from the public to the private sector on a national and international level. This book combines thematic papers with country case studies to discuss the mechanisms which have enabled this to occur, and to assess privatization's mixed achievements. The authors, international academics, practitioners and consultants and the process of privatization is discussed in East Germany, Nigeria, Pakistan, Guyana, Sri Lanka, Trinidad and Tobago, and Great Britain.
Author : William L. Megginson
Publisher :
ISBN 13 : 9781680833393
Total Pages : 153 pages
Book Rating : 4.8/5 (333 download)
Download or read book Privatization, State Capitalism, and State Ownership of Business in the 21st Century written by William L. Megginson and published by . This book was released on 2017 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study summarizes the economic and political developments relating to privatization, state capitalism, and state ownership of business since 2000 and then surveys the extensive recent research examining these issues empirically. Through the early 21st century, there was an unambiguous global trend towards reducing government ownership of business enterprise, but this trend has since at least been slowed, and perhaps even reversed. We discuss the factors that have promoted a global resurgence of state ownership, then define and analyze the new ideology labeled "state capitalism." Recent research examines whether privatization improves the operating and financial performance of divested companies, as well as when, where and how governments decide to privatize individual companies and how these sales are priced. All the performance studies surveyed document significant improvements after companies are divested. Recent academic and professional research categorizes and evaluates various types of state owners; examines determinants of the level of state ownership; studies how state ownership impacts the valuation of corporate assets and examines the relative efficiency of state versus private ownership; and assesses how state ownership impacts corporate financial policies, especially capital investment. This research highlights that different types of state owners have very different impacts on corporate value and performance, and that state ownership generally has a significant, and mostly pernicious, impact on corporate investment and financial policies. The separate effect of state ownership on corporate valuation is less clear-cut. This survey also summarizes recent empirical research examining the relationship between state ownership of business assets and financial markets and institutions, and also surveys the literature examining political connections between politicians and corporate managers. Sovereign wealth fund research yields essentially benign findings, but almost all studies examining state-owned banking show that state ownership reduces banks' efficiency. All the financial markets and institutions studies examined highlight the distortive effects and economic costs of bailouts and guarantees, and almost all the political connections studies find that these connections are privately beneficial but socially costly. Finally, the research surveyed here convinces the author that "state capitalism" is an essentially failed model.
Author : David Parker
Publisher : Routledge
ISBN 13 : 113473350X
Total Pages : 286 pages
Book Rating : 4.1/5 (347 download)
Download or read book Privatization in the European Union written by David Parker and published by Routledge. This book was released on 2002-01-31 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book identifies different national characteristics in terms of the motivation to privatise, the scale of privatization and its consequences. In the opening chapters there is a detailed overview of the theoretical economic issues involved in privatisation and an assessment of privatization across the EU. The remaining ten chapters contain national case studies of EU countries which review the history of state ownership and privatization in each of these countries and evaluate the extent of privatisation. The role of European Commission directives in deregulating markets and stimulating privatisation is also examined.
Author : Alberto Chong
Publisher : World Bank Publications
ISBN 13 : 0821383507
Total Pages : 526 pages
Book Rating : 4.8/5 (213 download)
Download or read book Privatization in Latin America written by Alberto Chong and published by World Bank Publications. This book was released on 2005-03-15 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
Author : Gabriel Waweru
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783847371243
Total Pages : 96 pages
Book Rating : 4.3/5 (712 download)
Download or read book Impact of Privatization on Companies Performance written by Gabriel Waweru and published by LAP Lambert Academic Publishing. This book was released on 2014-02 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book outlines the impact of privatization of companies. The language used in this book is easy to understand by all.The recommendations can be applied by different countries when planning privatization of their companies and especially the developing countries.Through privatization the performance of the companies especially profitability is likely to improve.The analysis used is simple to understand by all.The authors hope that many will find the content in this book useful.
