Transition provides an unexplored opportunity to study how changes in ownership affect structure and human resource policies of firms. We investigate a unique data set (17 years, 1500 white collar workers) of a Russian insider-privatized firm. In contrast to conventional beliefs about insider-privatized firms, there is much evidence for restructuring. However, the firm becomes “toploaded”. Ther...

This paper describes and evaluates the Chilean infrastructure concessions program, which is one of the main economic innovations carried out by the center-left coalition of political parties that has governed Chile since the return to democracy in 1990. The main principles underlying the economics of franchising are discussed and used to evaluate the program, thereby reviewing the privatization...

T o deny someone the right to water is tantamount to denying them the right to life, and to set a price on water is to set a price on life. It comes as no surprise then to find a good amount of anxiety and contention over who gets to set the price of water and how much they charge. And over the past two decades, throughout both the developed and developing world, setting the price of water has ...

Unless developing countries embrace a corporate governance perspective, privatization is unlikely to provide the benefits of improved performance with accountability. This article introduces the concept of governance chains that can constrain the grabbing hands of public and private actors by providing information and accountability mechanisms to help investors monitor managers. Empirical data ...

This paper proposes a multicriteria model for assessing public bus operation systems based on the ELECTRE method in the city of Eskisehir, Turkey. In this specific problem, public and expert opinions towards the privatization of urban bus lines were collected through a comprehensive survey to determine the best operation system; either by the local authority or private operators. The data colle...

This paper examines access to external financing in the privatization context and provides new evidence on the effects of financing constraints on performance and investment. Ownership reforms increase firms’ reliance on external financing. Empirically, performance and investment changes around ownership reforms are increasing in country-level measures of access to credit. The presence of a sev...

Growing public awareness of future pressures on Social Security is eroding many Americans’ confidence in this key retirement program. These pressures are nearly certain in the next century, stemming from the retirement of the large baby-boom generation, longer average life spans, and lower projected fertility rates. To meet such pressures, various reforms of Social Security have been proposed, ...

This paper examines development of tourism in Korean fishing communities, and illustrates the ways in which the responses of the state and the fishing village cooperative to tourism have advanced the privatization of commonly held local fishing grounds and of cooperative businesses. The financial assistance from the state and some privatization of common fishing grounds by the cooperative preci...

a review of studies about sports privatization indicates that almost allcountries in the world have paid considerable attention to the role and thesignificance of sports privatization. however, it should be noted that thereare not only one or two factors influencing sports privatization. the mainissue is that sports privatization especially for football clubs cannot beeffective without the exis...