Privatization in Colombia: A Plant Performance Analysis

Performance and efficiency in Colombia's power distribution system: Effects of the 1994 reform

“…5 For details of the privatization program in general and by sectors in Colombia, see Pombo and Ramírez (2005).…”

“…The National Grid Company ISA sold 30% of its equity through the stock market in 2000. ICEL is a holding of 14 regional power distribution companies, and EMCALI is the power distribution company of the city of Cali see Pombo and Ramírez (2005). employees, power losses, sales, commercial demand, and final user tariffs for the 1985-2001 period.…”

“…14 The reported DEA efficiency scores in the section also prove that EPM is a proper benchmark because its inputoutput allocations are on the production frontier. 15 A complete efficiency analysis of the privatized power generation utilities is in Pombo and Ramírez (2005). The main findings regarding the sources of efficiency gains until 1998 were: i) privatization induced new investment in incumbent firms, ii) employment cuts were not significant, and iii) there were positive efforts in reducing power losses.…”

“…Nonetheless, several studies on the Colombian electricity sector after a decade of the regulatory reform have been published recently. Pombo and Ramírez (2005) test performance in privatized power holdings and measured plant efficiency for Colombia's thermal stations showing a generalized increase in productive efficiency due to market entry, introduction of cost-saving technologies, and a positive effect of the new regulation that implied the setting up of a non-regulated market of large clients that boosted transactions of forward electricity contracts. García and Arbelaez (2002) evaluate the likelihood of merging among power generators acting in the wholesale electricity market.…”

O Impacto da Privatização no Desempenho Econômico: Um Estudo em Empresas Brasileiras de Grande Porte

“…Não obstante a produção científica sobre privatizações já ser relativamente extensa (Sanchis, 1996;Matos Filho & Oliveira, 1996;Pereira, 1997;Silanes & La Porta, 1999;Saurin, Mussi & Cordioli, 2000;Almeida, 2001;Rocha & Ferreira, 2001;Oliva, 2002;Janoschka, 2002;Pombo & Ramirez-Gomez, 2003;Anuatti-Neto,Barossi-Filho, Carvalho& Macedo, 2005;Díaz, 2005), não há uma definição absolutamente consensual do que consiste uma privatização. Assim, é possível encontrar inúmeras definições na literatura especializada, talvez porque, na prática, privatização abrange uma gama variada de fenômenos.Neste estudo consideramos a definição mais ampla de privatização como um processo de transformar uma empresa estatal em privada (Pereira, 1997), e fundamenta-se escola neoclássica utilizando-se por base teórica teoria dos direitos de propriedade, complementada por vezes pela teoria da agência, face ao alcance da eficácia empresarial (Serva, 2003).…”