Autore
Fraquelli, Giovanni

Titolo
L'attesa della privatizzazione: una minaccia credibile per il manager?
Periodico
CERIS-CNR. Working Paper
Anno: 2000 - Fascicolo: 8 - Pagina iniziale: 1 - Pagina finale: 40

The privatisation process in Italy is going on but for the biggest firms it is till in progress. Given the context, it is difficult to test the performances after privatisation. However it is possible to analyse the behaviour of the firms during the years immediately close to privatisation. The research compares the four years before privatisation with the previous years. Using a panel of 10 firms, working prevalently in public utility sectors, it is possible to see a significant improvement of efficiency and profitability during the last period before privatisation. The results seem due to two main factors: the reduction of political interference and the risk to be replaced as a real threat for managers of state owned firms.



Testo completo: http://www.ceris.cnr.it/ceris/workingpaper/2000/wp08_00_Fra.PDF

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