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181.
This article explains how action research was used to analyse the implementation of the balanced scorecard (BSC) model to meet the legislative requirements of strategic control reporting in Italian local government. The BSC model was modified for local government and was used for political action, non-financial measures, budget allocations, and to meet legislative requirements. This article offers some important lessons for policy-makers and practitioners about adopting and implementing a BSC model.  相似文献   
182.
Britain's major cities have fallen behind the best practice in transport of European and north American cities, and need to address this to compete in global markets. A number of potential mechanisms are available to UK cities, but only if central government is willing to transfer (limited) financial powers to the city regions.  相似文献   
183.
During the European drive for rail liberalization in the 1990s Britain moved far beyond its continental neighbours. Amid signs of a resurgent political debate about Britain's privatized railways, the authors examine the obstacles confronting any policy-makers who may wish to re-integrate Britain's railway under public ownership. The paper considers what structural models could satisfy European rail directives, the potential for a government to reclaim rail passenger service franchises at minimal cost, and cost savings available to a de-fragmented railway without profit leakage.  相似文献   
184.
Abstract

This paper examines optimal trade, industrial, and privatization policies in a home-market model of mixed international duopoly with strategic managerial incentives. Under linear demand and constant marginal costs, the optimal degree of privatization is shown to depend crucially on cost and demand parameters and on the availability of strategic trade and industrial policies. If both firms are equally efficient, optimal trade and industrial policies drive out the foreign firm and the privatization policy loses its effect on national welfare; however, if the home firm is less efficient, then full privatization combined with an import tariff and a production subsidy is optimal for the home country, while an export subsidy is optimal for the foreign country. If trade and industrial policies are unavailable and if both firms are equally efficient, full state-ownership, which drives out the foreign firm, becomes optimal; however, if the home firm is less efficient, only partial privatization is optimal, The state-ownership share is increased if either the market size grows, the home firm's efficiency increases, or the foreign firm's efficiency decreases. Further, the paper demonstrates the potential conflict between privatization and trade liberalization policies.  相似文献   
185.
This article offers a detailed view of key drivers for the wide-ranging economic reforms in the region during the 1990s, chiefly the Washington Consensus and the increased political stability. It highlights the key developments and results of the reforms in the areas of privatization (across industries), foreign investment and trade liberalization. It further provides insight into how the opening up of the regional economies resulted in multinationals penetrating and thereafter increasing their ownership of business across sectors, how, as a result, the public-sector share shrank during the period and how the local businesses adapted to this changed environment. The article also touches upon some key structural changes in the labour market as a result of the developments of the 1990s. This is followed by an exploration of the key themes and challenges facing the regional economies in the years ahead – economic, social and geo-political.  相似文献   
186.
Many commentators and researchers have attributed the manufacturing success in China to its ownership reforms. Using a micro database from the Chinese National Bureau of Statistics, this paper documents and quantifies this development. With systematic and robust analyses, it shows that the development of private ownership indeed played an essential role in improving firm performance and the allocation and utilization of production resources in the Chinese manufacturing sector. In addition, the paper estimates the contributions of firms under different ownership to manufacturing growth, showing that the development of private ownership was the driving force of manufacturing growth in China. The strong credible evidence has important policy implications for further maintaining sustainable development in China.  相似文献   
187.
Using a mix of survey data, results from a study on local planning politics and fieldwork, this article discusses the interplay of planning and welfare policies with global financial markets in the ‘making’ of social segregation in Halle‐Neustadt, a borough in the German city of Halle (Saale). Here, different developments come together. First, Halle‐Neustadt has experienced two waves of privatization, leading to a complete change of ownership structures, marked by the rise of financial investors. Second, welfare cuts have put increasing pressure on welfare recipients to live in the cheapest housing available. This has led to the emergence of a ‘Hartz IV business model’ based on low, but state‐subsidized, rents. Third, new planning policies have led to a massive drop in house prices, thus facilitating the use of ‘leverage’ strategies for financial investors. We expand on an already developed debate, providing new insights about relations between planning, state restructuring and financialization in a German context. We demonstrate that a broad array of changes in national regulatory settings, policy change in different sectors and local particularities can all be crucial in enabling financialization. We conclude that research should place greater emphasis on the state in providing explanations and take differences in context more seriously.  相似文献   
188.
Politicians use a variety of expectations to justify the delegation of public services to public, semi-public or private organizations. This article reveals expectations of delegation, as well as its correlates. Empirical evidence is drawn from a systematic review of 250 peer-reviewed articles published in leading public administration journals between 2000 and 2012. This study identifies a discourse with three main categories of justifications: scientists and practitioners expect economic, political, and organizational benefits. The effects associated with delegation are not in line with these expectations. Delegation has inconsistent correlations to outcomes when governments maintain a role in service delivery. Complete privatization is associated with negative outcomes. These results have important implications for the study and practice of delegation.  相似文献   
189.
This paper examines changes in values and returns for Chinese firms around announcements of block-share transfers among government agencies, State-owned enterprises and private investors. We find that transfers to all three types of investors result in positive abnormal returns around transfer announcements, even when the transfers do not create a new controlling block holder and when transfers are between State entities. We also find that transfers from State entities to private entities result in larger increases in value and returns than transfers between State-controlled entities – consistent with the superior incentives and expertise of private investors. We conclude that corporate governance can be improved at State-controlled firms by improving incentives and expertise of controlling block holders.  相似文献   
190.
Profitability improvements after the privatization of a large state-owned bank might come at the expense of reduced access to financial services for some groups, especially the rural poor. The privatization of Tanzania's National Bank of Commerce provides a unique episode for studying this issue. The bank was split into the “new” National Bank of Commerce, a commercial bank that assumed most of the original bank's assets and liabilities, and the National Microfinance Bank, which assumed most of the branch network and the mandate to foster access to financial services. The new National Bank of Commerce's profitability and portfolio quality improved although credit growth was slow, in line with the privatization experiences in other developing countries. Finding a buyer for the National Microfinance Bank proved very difficult, although after years under contract management by private banking consultants, Rabobank of the Netherlands emerged as a purchaser. Profitability has since improved and lending has slowly grown, while the share of non-performing loans remains low.  相似文献   
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