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Acemoglu, Daron - 2006

Why do inefficient -- non-growth enhancing -- institutions emerge and persist? This paper develops a simple framework to provide some answers to this question. Political institutions determine the allocation of political power, and economic institutions determine the framework for policy-making...

Persistent link: https://www.econbiz.de/10012466731

Ownership versus Environment : Why are Public Sector Firms Inefficient?

Bartel, Ann P. - 1999

In this paper we disentangle the sources of public sector inefficiency using 1982-1995 panel data on manufacturing firms in Indonesia. We consider two leading hypotheses: (1) public sector enterprises are inefficient due to monitoring problems and (2) public sector enterprises are inefficient...

Persistent link: https://www.econbiz.de/10012471757

Corporate Ownership Structures : Private versus Social Optimality

Bebchuk, Lucian Arye - 1996

This paper analyzes the inefficiencies that might arise in the ownership structure chosen at the initial public offering stage. We show that, contrary to what is commonly believed, the desire of initial owners to maximize their proceeds leads them to choices that, although privately optimal, may...

Persistent link: https://www.econbiz.de/10012473264

A Theory of Firm Scope

Hart, Oliver - 2008

The existing literature on firms, based on incomplete contracts and property rights, emphasizes that the ownership of assets - and thereby firm boundaries - is determined in such a way as to encourage relationship-specific investments by the appropriate parties. It is generally accepted that...

Persistent link: https://www.econbiz.de/10012464034

Do Mergers and Acquisitions Improve Efficiency? Evidence from Power Plants

Demirer, Mert; Karaduman, Ömer - National Bureau of Economic Research - 2024

effects of acquisitions on efficiency and underlying mechanisms. We find a 2% average increase in efficiency for acquired … plants, beginning five months after acquisitions. Efficiency gains rise to 5% under direct ownership changes, with no … significant change when only parent ownership changes. Investigating the mechanisms, three-quarters of the efficiency gain is …

Persistent link: https://www.econbiz.de/10014635690

How Managers Can Use Purchaser Performance Information to Improve Procurement Efficiency

Celhay, Pablo A.; Gertler, Paul J.; Olivares, Marcelo; … - National Bureau of Economic Research - 2024

values efficiency. We show that the effect of performance information not only increases efficiency but is greater when the … gain in efficiency is concentrated in procurement units where buyer belief that the government cares about efficiency is …

Persistent link: https://www.econbiz.de/10014486173

Management Ownership and Corporate Performance : An Empirical Analysis

Morck, Randall - 1986

We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a cross-section of Fortune 500 firms, Tobin's Q first increases and then declines as board of directors holdings rise. For older firms there is weak evidence that Q is lower when a...

Persistent link: https://www.econbiz.de/10012477014

Hospital Ownership Mix Efficiency in the US : An Exploratory Study

Santerre, Rexford E. - 2005

This paper offers an empirical test of ownership mix efficiency in the U.S. hospital services industry. The test …

Persistent link: https://www.econbiz.de/10012467493

Testing for Ownership Mix Efficiency : The Case of the Nursing Home Industry

Santerre, Rexford E. - 2005

This paper offers an empirical test of ownership mix efficiency in the U.S. nursing home industry. We test to compare …

Persistent link: https://www.econbiz.de/10012467570

The creation of the rule of law and the legitimacy of property rights : the political and economic consequences of a corrupt privatization

Hoff, Karla Ruth - 2005

"How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? We investigate the demand for the rule of law in post-Communist economies after privatization under the assumption that theft is possible, that those who have "stolen" assets cannot be...

Persistent link: https://www.econbiz.de/10010522421

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