Throughout the 1990s, government reports such as the Competitive Tendering and Contracting Report (Industry Commission1996) and the Report of the Independent Commission to Review Public Sector Finances (McCarrey 1993), suggested that the contracting-out of government services would improve the...

In the UK, the top executive remuneration policy is not geared towards the creation of value but compensation revisions are rather driven by changes in corporate size, measured by sales growth. This suggests that managing larger firms requires special managerial skills. Even in UK companies with...