Privatization in Theory and Practice

Yarrow, George

doi:10.2307/1344560

Cited by 270 publications

(143 citation statements)

References 10 publications

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“…Competition and regulation would be more important than privatization in improving performances of firms (Bishop and Kay, 1989;Kay and Thompson, 1986;Vickers and Yarrow, 1991;Yarrow, 1986). Thus, in a fully competitive market, private ownership would be more efficient than the public one; but the answer would be less clear for less competitive markets like water supply and sanitation.…”

Section: Theoretical Issuesmentioning

confidence: 99%

Water supply: Public or private?

Pérard

2009

Policy and Society

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Most theories on private sector participation in water infrastructure are based on the sole supposed difference of efficiency between the public and the private sector. The review of 23 empirical tests and 51 case studies shows that private sector participation per se in water supply does not systematically have a significant positive effect on efficiency. Thus, the choice between public and private water delivery is probably not only a question of efficiency.We developed a complete theory of the choice between public and private water supply based on four components: difference of cost of funds, transaction costs of outsourcing, difference of efficiency and potential political cost of privatizing. Since determinants of the theory fluctuate over the time and depend on the local context, it explains both "privatization" and municipalization movements as well as why some local governments outsource water supply, while others opt for direct provision.The tests on 459 US Counties in charge of water supply in 45 States provide substantial support for the theory. Significant determinants of the choice of public versus private water delivery include the cost of funds, especially the social cost of taxes, transaction costs, the difference of efficiency and the political cost of privatizing.Moreover, we tested other literature's theories, which suggest employment as a motive of public provision and cost of public wages as a cause of privatization. These two arguments seem to be irrelevant.We additionally tested the influence of ownership on the number of drinking water environmental violations and found no significance. *

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Section: Theoretical Issuesmentioning

confidence: 99%

Water supply: Public or private?

Pérard

2009

Policy and Society

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“…Private property prompts directors to take riskier decisions due to innovations in products and organization (Zahra and Hansen, 2000). Also, following privatization, the board of directors have more freedom to redefine the organizational targets of their key shareholders (Yarrow, 1986).…”

Section: Strategic Competitive Factorsmentioning

confidence: 99%

Comparison of corporate governance, strategy, control and performance e valuation systems before and after privatization

Cuevas‐Rodríguez

Guerrero‐Villegas

Cabrera

2016

RIO

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“…En effet, prés du tiers de ces études présente des résul-tats mixtes. À cet effet, Yarrow (1986), Bishop et Kay (1989), Bishop et Thompson (1992) ainsi que Parker et Martin (1995) démontrent que la performance croît de manière importante dans la phase précédant la privatisation. Or, il semblerait que cette amélioration de la performance soit le fait de certains remaniements administratifs qui sont généralement institués en vue de préparer la privatisation.…”

Section: Les Approches De Comparaisonunclassified

L’analyse comparative de la performance entre les entreprises publiques et les entreprises privées : le problème de mesure et son impact sur les résultats

Bozec¹

2006

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RésuméDe nombreuses recherches ont été réalisées au cours des 30 dernières années pour vérifier si la forme de propriété a un effet déterminant sur la performance. Cette étude met en lumière le problème de mesure qui caractérise ce type de recherche et qui découle des disparités, parfois importantes, entre les objectifs poursuivis par les entreprises publiques et les entreprises privées. Nous procédons à une revue des études empiriques dans le domaine en prenant soin d’identifier les situations où le problème de mesure est le plus manifeste. Nous en évaluons l’impact sur les résultats. Dans l’ensemble, les résultats de notre analyse suggèrent que les différences d’objectifs entre les entreprises expliquent en partie leurs différences de performance.

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Privatization in Theory and Practice

Cited by 270 publications

References 10 publications

Water supply: Public or private?

Water supply: Public or private?

Comparison of corporate governance, strategy, control and performance e valuation systems before and after privatization

L’analyse comparative de la performance entre les entreprises publiques et les entreprises privées : le problème de mesure et son impact sur les résultats

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