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In this paper, we discuss the choice for build–operate-and-transfer (BOT) concessions when governments and firm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10010664298
consider privatization, deregulation in network-based services, and the cutback of subsidies. Though the empirical analysis … beta convergence indicates convergence only for privatization (measured by public employment) and for subsidization …
Persistent link: https://www.econbiz.de/10010719643
This paper analyses the privatization of utilities in Bolivia, detailing the particularities of the capitalization …
Persistent link: https://www.econbiz.de/10008636518
. Therefore, this paper empirically assesses the effects of regulation, privatization and liberalization reforms, as well as their … privatization of the main incumbent operator and the fixed-line market's liberalization affect the sector's performance negatively … and a privatized incumbent helps to eliminate the drawbacks on the sector performance resulting from privatization …
Persistent link: https://www.econbiz.de/10011274575
Persistent link: https://www.econbiz.de/10011696497
The paper offers a selective survey on the incomplete contracts approach to privatization. Furthermore, a simple model … of privatization to an owner-manager is developed in which different allocations of ownership rights lead to different …, privatization is a commitment device of the government to credibly reward the manager for a successful cost reduction and to harden …
Persistent link: https://www.econbiz.de/10004968174
Secondo Laffont (2005), in presenza di agenda privata dei politici, ed in particolare di corruzione, con regolatori a loro volta corrompibili e ispezioni costose, i governi dei PVS hanno una funzione non lineare di reazione verso la privatizzazione, a forma di U rovesciata, dipendente dal grado...
Persistent link: https://www.econbiz.de/10005007354
Este artículo explora a través de un mismo modelo básico las características fundamentales que determinan si es socialmente preferible concesionar versus privatizar un servicio público con características monopólicas. Los principales resultados de este trabajo son que la opción de...
Persistent link: https://www.econbiz.de/10005328909
Persistent link: https://www.econbiz.de/10005037412
Shareholder dispersion may be valuable because a credible commitment by shareholders not to interfere allows managers to benefit from their initiatives. A tougher regulatory regime for investors decreases the value of the commitment not to interfere implicit in a more dispersed ownership...
Persistent link: https://www.econbiz.de/10005736234