Suchergebnisse

Critical assessment of the theories propounded by R. Sobhan and M. Ahmad in the book "Public enterprise in an intermediate regime: a study in the political economy of Bangladesh" on the public ownership and management of capital assets in Bangladesh. Dominant role to the public sector cannot be denied in the prevailing circumstances but operational autonomy of the public enterprises necessary for their improvement. (DÜI-Sen)

Cover -- Half Title -- Title Page -- Copyright Page -- Original Title Page -- Original Copyright Page -- Dedication Page -- Contents -- List of Figures -- List of Tables -- Preface -- Chapter One The Nature of the Problem -- The plan of the study -- Introductory background -- Appendix 1.1 State ownership in key sectors in Latin American countries -- Appendix 1.2 Major state-owned enterprises (SOE) in Venezuela -- Chapter Two Employee Incomes -- High wages -- Surplus labour -- Generous incentives -- Social expenditures -- Distributional implications -- A specific input policy -- Appendix 2.1 Wages in Kenyan public enterprises: an illustrative note -- Appendix 2.2 Public enterprise proportions in employment and wage earnings in Peru (1974-9) -- Appendix 2.3 Ancillaries assisted by public enterprises in India -- Chapter Three Pricing -- General observations -- Prices for final consumers -- Prices of intermediate goods -- Sectoral pricing -- Regional development policies -- Appendix 3.1 Cross-subsidizations in a monolithic enterprise: a case study -- Chapter Four Deficits and Surpluses -- The nature of deficits -- The effects -- Direct budget expenditures -- Chapter Five The Aggregate Effects -- The size of the public enterprise sector -- The composition of the public enterprise sector -- Appendix 5.1 Dualism in income distribution -- Chapter Six Privatization and Income Distribution -- Introduction -- The sale implications -- The exchequer implications -- Long-term implications -- Chapter Seven Conclusion -- A résumé -- The government and distributional policies -- The institutional aspects -- Notes -- Index

Italian State-owned enterprises (SOEs) continue to occupy a strategic position in the national economy. In 2013, their aggregate value added was equal to 17% of the Italian national GDP, and they counted for around 40% of the total Italian stock market capitalization. The present paper focuses on the top ten Italian SOEs over the period 2004-2013. A first overview of the changes in their internal and external environment suggests the crucial importance of institutional conditions and the lack of a coherent policy design for privatisation and regulation, as the timing and the intensity of the reforms has varied deeply among sectors. Nevertheless, contemporary Italian SOEs have been increasingly exposed to market incentives, and they seem nowadays more oriented to markets than to public values, with some remarkable divergences depending on the degree of public control and market liberalization. Our textual analysis of the SOEs' statutes reveals a total absence of direct references to a formal public mission. Social goals have been increasingly addressed by means of regulation, while only Ferrovie dello Stato and Poste Italiane are formally subject to the Universal Service Obligation. We also find that, on average, the management and performance of the Italian SOEs has improved and it holds the comparison with private and public European industry peers. Still, remarkable differences across markets and across sectors persist. Listed SOEs are largely profitable and distribute positive dividends to their shareholders. Among them, Eni, Enel and Finmeccanica have expanded their business internationally, though cross-border M&As. As a result, a high share of their revenues and employees originates out of Italy. This suggests that their strategies are no more committed to political goals, such as employment protection. Conversely, other SOEs are somehow compelled to maintain an informal public mission. Unlisted SOEs that provide universal services often incur in economic losses which are partly covered by public subsidies or by taxpayers.Nevertheless they also have modernized their management and expanded into new profitable markets, such as high speed train (FS) and financial and insurance services (Poste Italiane). SOEs managing networks have invested in national strategic infrastructures and their employees and revenues are largely domestic-based. Finally, aggregate data do not reveal strong divergences among the Italian SOEs and their industry peers in terms of employment policies and labor productivity, with some important divergences among SOEs operating in labor-intensive and capital-intensive sectors. In terms of investments in fixed assets we observe divergences among SOEs and private ones. The former have increased their investments in tangible assets over time, while investments by private industry peers have been negatively affected by the financial crisis.

This volume consists of papers chosen from the Boston Area Public Enterprise Group Conference that was held in 1980 and concentrated on public enterprises in less-developed countries. The Boston Area Public Enterprise Group is composed of scholars dedicated to understanding the public enterprises operating in the world's mixed economies. Public enterprises are government-owned firms that sell goods or services in a market. Involved in public production for private consumption, they are a hybrid of government and private enterprise. Thus, an analysis of public enterprise requires insights from economics, management, political science and law. Each of these disciplines is represented in addressing the following questions: Why public enterprise? Who should control public enterprise? How are decisions made in practice? How do public enterprises behave in international markets? How does risk and uncertainty alter public enterprise decisions'? How are incentive structures to be designed'? How do public enterprises compare with other public policy tools for dealing with particular problems'? The contributions combine theory and practice in analysing a variety of less-developed countries

Cover -- Half Title -- Title Page -- Copyright Page -- Original Title Page -- Original Copyright Page -- Contents -- Dedication Page -- Preface -- List of Tables -- List of Figures -- List of Appendices -- Part I The Concept of Public Enterprise -- Chapter 1 Introduction -- Chapter 2 The 'Public' Concept -- Chapter 3 The 'Enterprise' Concept -- Chapter 4 Synthesis between the 'Public' and the 'Enterprise' Concepts -- Chapter 5 Taxonomy and the Concept of Public Enterprise -- Chapter 6 The Definitional Issue -- Part II Public Enterprise in Developing Countries -- Introduction -- Chapter 7 The Development Perspective -- Chapter 8 The Genesis of Public Enterprise -- Chapter 9 Monopoly Elements -- Chapter 10 Sectoral Coverage -- Chapter 11 The Financial Performance -- Chapter 12 The Real Costs of Public Enterprise -- Chapter 13 The Impact on the Public Exchequer -- Chapter 14 The Concept of Comparative Advantage -- Chapter 15 Classification of Developing Countries -- Part III Decentralisation of Public Enterprise Control -- Chapter 16 The Theme -- Chapter 17 Independent Commissions -- Chapter 18 Consumer Councils -- Chapter 19 Techniques of Enterprise Organisation -- A. The Holding Company System -- B. Policy Councils -- C. Enterprise Boards -- Chapter 20 The Market -- Chapter 21 Conclusion -- Appendices -- Index

Cover -- Half Title -- Title Page -- Copyright Page -- Original Half Title -- Original Title Page -- Original Copyright Page -- Contents -- List of Figures -- List of Tables -- Preface -- Part I The Genesis -- 1 The concept and rationale of public enterprise -- The concept of public enterprise -- The rationale of public enterprise: in theory -- The political dimension -- The rationale of public enterprise by governmental perception -- Conclusion -- Appendix -- 2 The emergence of public enterprise -- Nationalisation and sponsoring -- Organisational unification -- Comparative advantage in reality -- Conclusion -- Appendices -- 3 Extra-enterprise objectives -- The concept -- Extra-enterprise objectives -- Public policy -- Public enterprise as a medium of extra-enterprise objectives -- 'Social responsibilities' of private enterprise -- Conclusion -- Appendices -- 4 Investment and capital structure -- The investment -- The sources of capital -- The capital structure -- Restructuring -- Conclusion -- Appendices -- Part II The working -- 5 Financial performance -- The state of financial performance -- Some conceptual issues -- Accumulated deficits -- Self-financing -- The rationale of deficits -- Conclusion -- Appendices -- 6 Pricing -- The role of prices -- Pricing and the investment decision -- The price level -- The price structures -- Distributional prices -- Prices in competitive markets -- Price control -- Conclusion -- Appendix -- 7 Targets -- The concept -- The net revenue target -- Additional targets -- The target system -- 'Contracts' -- Conclusion -- Appendices -- 8 Monitoring -- The concept of monitoring -- Monitoring at the enterprise level -- Classifications of indicators -- The utility of indicators -- Monitoring the totality of public enterprise -- Monitoring indicators and performance indicators -- Conclusion -- Appendices