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We examine the links between ownership and internal control for a sample of 112 state-owned, privatized, and publicly traded firms in the United Kingdom from 1970 to 1994. Privatized firms with at least four years in the private sector, like established publicly traded firms, exhibit a...
Persistent link: https://www.econbiz.de/10014193298
This paper examines the determinants of wage pressure in large companies, including ownership characteristics and the impact of regional labour markets. By using a panel of 329 Polish largest firms during the period 1997-2001, we find evidence of rent sharing activities, however there is also...
Persistent link: https://www.econbiz.de/10014077856
This article seeks to identify the reasons behind the privatization programmes undertaken by governments of the … European Union (EU), particularly, the EU 15. The privatization of public enterprises was one of the most important economic … bibliography on the topic. Despite this, there remains a lack of consensus on the reasons why governments implemented privatization …
Persistent link: https://www.econbiz.de/10013143121
Persistent link: https://www.econbiz.de/10000760143
practices, criteria, and governance structure; i.e. corporatization, commerciallization or "organizational privatization … improve as a consequence of such organizational privatization strategic reforms, though improvements may entail a given time …-delay. -- state owned enterprise ; organizational status reforms ; organizational privatization ; efficiency measurement …
Persistent link: https://www.econbiz.de/10009569739
The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) was the largest experiment in public divestitures among capitalist economies. It had a deep impact on economic policy-making world wide, and was vastly...
Persistent link: https://www.econbiz.de/10011324982
We analyze the effect of privatization on the performance of British Airways by examining the privatization's impact on … Airways' privatization, implying expectation of a more competitive British Airways. Closer rivals of British Airways … significantly upon privatization. The results suggest that a change from government to private ownership improves economic …
Persistent link: https://www.econbiz.de/10013122620
This policy paper offers a synthesis of research on privatisation and its impacts on the utilities sector in different countries. It identifies issues to be considered by policy makers concerned with economic reform, including the implications of sequencing privatisation together with...
Persistent link: https://www.econbiz.de/10012733357
Does privatisation increase firm productivity because the private owner's objective is different, or because she is better able to control management? Is privatisation sufficient to improve productivity, or is it only effective in combination with competition? We answer these questions for Great...
Persistent link: https://www.econbiz.de/10012854356
A generally accepted view is that sophisticated bankruptcy procedures are required to mitigate coordination failures and fire sale discounts arising from financial distress. In this paper, we study an industry not subject to mandatory bankruptcy procedures; instead, the shipping industry has...
Persistent link: https://www.econbiz.de/10012854883