haku: @indexterm privatization / yhteensä: 703
viite: 249 / 703
| Tekijä: | Boes, D. Harms, P. |
| Otsikko: | Mass privatization, management control and efficiency |
| Lehti: | Journal of Public Economics
1997 : JUN, VOL. 64:3, p. 343-357 |
| Asiasana: | PRIVATIZATION ECONOMICS MANAGEMENT CONTROL |
| Kieli: | eng |
| Tiivistelmä: | The authors present a model where a government chooses the number of individuals to which ownership in a former state-owned firm shall be allocated. When making this decision the government maximizes the political support it gets from the firm's incumbent manager and from potential shareholders, anticipating that a greater dispersion of shares reduces the control of the manager by the firm's new owners. It turns out that shares will be allocated to the maximum number of individuals - and thus a policy of mass privatization will be implemented - if the manager's utility enters the political support function with a higher weight than the welfare of the potential shareholders. |
SCIMA