Showing 1 - 10 of 446
We develop a theoretical framework for comparing the style of work in public and private enterprises. We incorporate ‘socializing’, as an activity that yields utility for workers and affects a firm’s output, into a simple multitask model of work organization. In contrast with previous...
Persistent link: https://www.econbiz.de/10005791698
privatization on airport charges in a panel data setting where fixed effects can be employed to mitigate endogeneity concerns. Our …
Persistent link: https://www.econbiz.de/10009351519
The transition in East Germany has been characterized by an extremely rapid privatization of state-owned enterprises …-unification level. This paper argues that the government imposed an inconsistent policy toward employment on the privatization agency …, the Treuhand. Although required to take account of the shadow price of labour in the privatization negotiations (where …
Persistent link: https://www.econbiz.de/10005123788
We discuss the relative merits of public and private ownership. Our starting point is the analysis of Hart, Schleifer and Vishny (HSV), who apply an incomplete contract framework to study the difference between private and public ownership. Our analysis departs from HSV’s model in two aspects....
Persistent link: https://www.econbiz.de/10005124030
The paper analyses governments’ trade-off between fiscal benefits and consumer surplus in privatization reforms of … noncompetitive industries in developing countries. Under privatization, the control rights are transferred to private interests so … developing countries, tight budget constraints imply that privatization may be optimal for low profitability segments. For highly …
Persistent link: https://www.econbiz.de/10005124293
This paper analyses the ownership structure emerging from the Russian privatization process, using information from a … privatization methods for ownership structure, on the incidence of non-voting and voting shares, and on the extent of concentration …) estimates, suggesting that the privatization process may have contained a negative selection bias with respect to ownership by …
Persistent link: https://www.econbiz.de/10005136416
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation. The government maximizes total surplus but incurs some cost of public funds à la Laffont and Tirole (1993). An alternative to regulation is proposed in which firms are free...
Persistent link: https://www.econbiz.de/10005067470
The government wants a certain good or service to be provided. Should the required assets be publicly or privately owned or should a partnership be formed? Building on the incomplete contracting approach, we argue that the initially specified quantity of an ex ante describable basic good can...
Persistent link: https://www.econbiz.de/10005497777
This paper explores the use of auctions for privatizing public assets. In our model, a single ‘insider’ bidder (e.g. incumbent management of a government-owned firm) possesses information about the asset’s risky value. In addition, bidders are privately informed about their costs of...
Persistent link: https://www.econbiz.de/10005497839
privatization, but most respondents prefer to leave firms in private hands. We examine who wants to revise privatization and why …. Respondents with poor human capital and few assets support revising privatization due to a preference for state over private … property. Economic hardships during transition increase support for revising privatization due to the perceived unfairness of …
Persistent link: https://www.econbiz.de/10005497879