17 An appraisal of highway maintenance by contract

Harral, C G; Henriod, E E; Graziano, P. L.

doi:10.1680/hiidc.01633.0023

Cited by 2 publications

(1 citation statement)

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“…Furthermore, studies in Brazil (Harrol et al, 1982), Australia (Feibel and Walters, 1980), Germany (Blankart, 1987), and the Ivory Coast (Roth, 1984) all found that in providing urban transportation or road maintenance services, private ®rms operated much more eciently with respect to labour productivity. Thus, when a ®rm is partially privatized, and the state retains a strong shareholding position, political objectives may supersede objectives related to economic eciency.…”

Section: Hypothesis Development: Organizational Studies Using Agency mentioning

confidence: 99%

Explaining Performance Changes in Newly Privatized Firms

Andrews¹,

Dowling

1998

J Management Studies

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Much debate has been generated about whether privatization tends to enhance ®rm ®nancial performance. The research presented here seeks to identify the strategic choices that dierentiated ®rms with superior post-privatization performance from those with inferior post-privatization performance.Using agency theory as a theoretical foundation, it is hypothesized that superior post-privatization ®rm performance will be associated with (1) the government not retaining a signi®cant stock holding, (2) changes in leadership, (3) management stock options being initiated, (4) employee head count being reduced, and (5) the company being restructured ®nancially. The sample draws from 41 privatized ®rms from six industry classi®cations and 15 countries. To accommodate comparisons of small subsamples, non-parametric statistical methods are used. Controlling for size, industry and country (economic/regulatory eects), the hypotheses are generally supported except for the one relating to headcount.

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Section: Hypothesis Development: Organizational Studies Using Agency mentioning

confidence: 99%