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| Author: | Junghans, M. |
| Title: | Die Managementstrukturen der Verstaatlichten Industrie im Blickwinkel einer Public Choice Betrachtung. |
| Journal: | Journal für Betriebswirtschaft
1994 : VOL. 44:6, p. 292-302 |
| Index terms: | FIRM (THEORY OF) NATIONALISED INDUSTRIES AGENCY THEORY MANAGEMENT BEHAVIOUR PRIVATIZATION AUSTRIA |
| Language: | ger |
| Abstract: | Management structures of state-owned companies from a Public Choice perspective. Firstly, the problems of Austrian state-owned companies are discussed as depicted by the theory of the firm. Secondly, the principal agent theory is used to analyze the positions of managers of state-owned companies. The theoretical evidence is provided to prove that inefficiencis are more likely in case of state-owned companies. Thirdly, a concept for institutional change is illustrated. There is no essential reason for the absence of ownership and capital markets in government, because governments should be converted into genuine corporations as practical examples point out. Finally , privatization of state-owned companies is discussed. |
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