Partial privatization in mixed duopoly with price and quality competition

We analyze price and quality competition in a mixed duopoly in which a profit-maximizing private firm competes against a state-owned public firm. We first show that the welfare-maximizing public firm provides a lower quality product than the private firm when they are equally efficient. In order to maximize social welfare, government manipulates the objective of the public firm that is given by a convex combination of profits and social welfare. It is demonstrated that an optimal incentive of the public firm is welfare maximization under the absence of quality competition, but it is neither welfare maximization nor profit maximization under the presence of quality competition. The result supports a completely mixed objective between welfare and profit maximizations or partial privatization of the public firm.      

Changing the Rules of the Game

Abstract

This article examines the impact of privatization on the relative bargaining strength of management and trade unions. Findings are based on a study of Ireland's largest telecoms provider, Eircom, which has been privatized since 1999. The privatization of Eircom adopted a stakeholder approach, under which employee share-ownership and management–union partnership played an important role in firm restructuring. Findings show that despite this approach privatization has resulted in a significant decrease in the perceived bargaining strength of unions and an increase in the perceived bargaining strength of management.     

国有股退出程度的经济后果比较——对上市公司剩余国有股价值的分析

本文研究了我国资本市场国有股退出程度的不同在经济后果上是否存在显著差异。非参数检验与回归分析均表明,国有股部分退出的公司在民营化之后的业绩扭转要差于完全民营化,回归分析还反映出部分民营化后未彻底退出的国有大股东有显著负效应。在大股东并存的产权类型上,民营大股东之间的共存比民营同国有大股东的共存对公司价值提升更为有利。     

美国公共服务民营化的实践与战略演变

从20世纪80年代以来,美国和许多其他西方国家一样,对公共服务的供给和生产进行了民营化改革,并且在运用民营化的战略和方法方面具有了相当成熟的经验。基于此,本文比较系统地考察了近三十年来美国地方政府的各种民营化措施以及作为民营化主要形式的服务外包方式的演进,并探讨了公共服务外包管理艺术的发展,以期获得某些经验性的结论和启示。     

MARKET‐DEMAND BOOSTING AND PRIVATIZATION IN A MIXED DUOPOLY

This study incorporates demand‐boosting strategies into a mixed duopoly model in order to consider the endogenous determination of market demand. The results indicate equilibrium characteristics that differ from those found under an exogenous demand setting. As consumers become more sensitive to the demand‐boosting strategies of firms, the government must choose a lower level of privatization. This suggests that the responsiveness of consumer demand to the demand‐boosting strategies of firms constitutes a limiting factor for privatization.     

Organizational ownership,competitive intensity,and firm performance: an empirical study of the Indian manufacturing sector

Emerging countries are using privatization as a key strategy in their drive to become free market economies. Although these ownership changes are rapidly gaining prominence, the academic literature has been equivocal about the performance benefits of private vs. state ownership. The lack of clarity in findings can be largely traced to the underspecification of the models that prior studies have examined. Specifically, prior studies have mostly ignored the central role of competitive rivalry. This paper proposes a model that centers around the interactive, inseparable effects of ownership and competitive rivalry on firm performance. Results of the empirical examination set in India show that competitive intensity moderates the relationship between ownership and performance. Copyright © 2001 John Wiley & Sons, Ltd.     

国外燃气行业民营化的制度安排对我国的启示

我国民营经济进入燃气行业的壁垒主要来自制度性壁垒.当前,民营经济如何突破制度性进入壁垒,形成有效的制度创新,可以借鉴英、美等国燃气行业民营化的制度安排的经验,从内在制度和外在制度的视角带给我们启示.第一,立法先行、依法监瞥、规范经营.第二,对燃气行业中可竞争业务与垄断性业务进行适当分离.第三,设立独立的监管机构,强化和完善燃气行业监管职能.第四,加强以健康、安全、环境为核心内容的社会管制.第五,完成从行政控制价格向市场竞争定价的转变.     

中国民营化：第三条路径选择？——“西学东渐”与“拉美模式”的反思

民营化，作为一种新的治理工具，在短短30年内迅速成为公共事业改革的主流思潮，并在西方资本主义国家取得了显著成效，形成了许多民营化的典范，深刻影响到我国公共事业改革的进程。但完全仿效西方、拉美民营化的实践，由于制度和文化背景的差异，加之缺乏普适性的“休克疗法”超出了其经济、社会的承受能力，民营化的负面作用远远大于正面意义，甚至成为一些国家动乱的根源。因此我们在学习和借鉴西方民营化经验的同时，更要吸取拉美等国的教训，重新审视中国公共事业改革的民营化取向。     

Reforming Social Insurance in The Netherlands

This paper discusses recent reforms of social insurance in the Netherlands. It describes how a serious economic crisis in the beginning of the 1980s set the stage for the subsequent reform process. The most fundamental reforms were introduced in the areas of sickness insurance, which was privatized, and disability insurance, which now involves experience rating. After exploring various challenges affecting the future of social protection, the paper discusses various remaining policy options.