oalib
Search Results: 1 - 10 of 100 matches for " "
All listed articles are free for downloading (OA Articles)
Page 1 /100
Display every page Item
The Operating Efficiency and Market Value of Jordanian Privatized Firms: Fixed and Random Effects Analysis  [PDF]
DR. Ali Mustafa Abdullah Al Qudah
Interdisciplinary Journal of Research in Business , 2011,
Abstract: This study examines the impact of privatization by using a unique sample of 23 Jordanian privatized firms through the period 1992-2005.This study offers new measures not used in previous studies. In particularly, operating efficiency is measured by turnover ratio (fixed assets turnover) and performance is measured by market value ratio (share market price to share book value). Panel data analysis is employed to determine the impact of privatization on firms’ efficiency and performance. The results show that privatization has a positive and significant impact on privatized firms operating efficiency and performance as measured by market value ratio. This finding is consistent with most of the existing evidences on the impact of privatization on performance and efficiency. The results also show that strategic partner has a positive and significant impact on privatized firms operating efficiency and market value. In general Liquidity has a positive impact on privatized firms’ operating efficiency and performance. The study documents that firms’ specific effect (size) is a significant performance determinant since it influences operating efficiency and performance of privatized firms’. The present study also finds that openness of the economy is also a factor that affects privatized firms operating efficiency and performance.
Relational incentives in Chinese family firms  [PDF]
Pi Jiancai
Panoeconomicus , 2011, DOI: 10.2298/pan1104511p
Abstract: This paper mainly discusses the choice of managerial compensation contracts in Chinese family firms. Relation or guanxi in Chinese language is an important factor that should be considered because it can bring the shirking cost to the relation-based manager and the caring cost to the owner under Chinese-style differential mode of association (“chaxu geju”). Our theoretical analysis shows that under some conditions it is optimal for the owner to choose the efficiency wage contract, and that under other conditions it is optimal for the owner to choose the share-based incentive contract.
A study of the effect of change on ownership structure on enterprise value of privatized firms: Evidence from Tehran Stock Exchange  [PDF]
Mashallah Valikhani Dehaghani,Abbas Rostami,Mohammad Malekmohammadi Faradonbeh,Fatemeh Malekmohammadi Faradonbeh
Management Science Letters , 2013, DOI: 10.5267/j.msl.2013.04.001
Abstract: In this paper, we present an empirical investigation to measure the effects of privatization on some selected firms listed on Tehran Stock Exchange. The proposed study of this paper selects eleven relatively big sized Iranian firms whose structures were privatized prior year 2011. The main hypothesis of this survey studies whether there is a meaningful relationship between ownership structure and enterprise value of privatized firms. We collect the necessary information before and after privatization process completed and using a regression model examined the main hypothesis as well as five sub-hypotheses. The results of the survey indicate that the number of major shareholders has been reduced after privatization process accomplished, the number of shares had no impact on firms’ values. In addition, non-board members’ duty had not impact on firms’ value before and after privatization process, institutional investors did not play important role before and after privatization process, and separations played important role on firms’ value before and after privatization occurred.
Effects of Selective Contracting with Positive Incentives on the Choices of Dutch Consumers for Health Care Options: Results of an Experiment  [PDF]
Floris-Willem Enzerink, Christiaan Lako
Health (Health) , 2016, DOI: 10.4236/health.2016.89081
Abstract: Since the introduction of the Health Insurance Act in the Netherlands in 2006, insurers are incen-tivized to compete on price for basic health insurance, and on price and quality for supplementary insurance. It is possible for health insurers to implement a differentiated deductible since the first of January 2009. This paper describes an experiment. It is designed to study this differentiated deductible as a financial policy instrument. It focuses on the effect of selective contracting with positive incentives on the choice-behaviour of the insured. The goal of this study is to gain insight in the working mechanism of this financial policy instrument that is meant to reduce healthcare costs. The study is designed as a vignette study. The vignettes are presented in pairs of two to the respondents. The vignettes contain various elements including premium costs, deductible, degree of selective contracting and availability of quality-information (CQI). As the respondents in the design of this choice experiment have to choose between confronting health plans, it is understandable that they value these policies on their characteristics (so-called attributes). Subsequently, a statement can be formulated on the relative value assigned to these attributes by the respondents, clearly preferring one health plan over the other. Finally 99 respondents were included in our study. Logistic regression analysis was performed. This study shows that the deducti-ble as choice-influencing instrument has less influence as age increases. The proclaimed cost savings of this deductible might be lower than expected. Generally, it can be concluded that healthier people are less likely to choose the extensive health plan. However, this effect reverses when the most extensive and less extensive are presented to the participants. The results thus show a clear demarcation in the preferences of consumers. A similar demarcation also has been found in the data concerning travel distance. When contracted care is within 30 minutes, this health plan is preferred over the more extensive and expensive one. However, this study also shows that this effect reverses when the travel distance increases to 45 minutes. Consumers in this situation are reluctant to choose selective care and choose for the extensive and expensive option. Premium costs have a negative effect. A health plan becomes less attractive when the price increases. In addition, an increase in the availability of CQI makes a health plan more attractive. It can be concluded from this study that the deductible as
Oil and Gas Contracting Firms Compliance to Nigerian Local Content on Industrial Growth Using a Study of Saipem Contracting Nigeria Limited  [PDF]
Izuogu Sunday Anthony, Innocent Victor Ogo Modo, Onyekwere Iwundu Anthony
Journal of Human Resource and Sustainability Studies (JHRSS) , 2019, DOI: 10.4236/jhrss.2019.71001
Abstract: This study examined how the Human Resource Management (HRM) practices implemented by Saipem Contracting Nigeria Limited contribute to its organisational growth in terms of compliance to Nigerian local content act. Statement of the problems, objective of the study, research questions, hypotheses and scope covered in this work revolve within: Ascertaining if the HRM practices of Saipem in complying with Nigerian local content acts contributed to project completion in Saipem. Organisational growth in this article is seen from project completion and meeting client set targets given to Saipem in each of the projects being executed in Nigeria. The time range in completing each project contributed to executing another project by Saipem. Methodology comprised the use of descriptive type of survey research design. This design helped in examining the relationship that HRM practices have with organisational growth of Saipem contracting Nigeria Limited. Stratified random sampling technique was used to select respondents from the study area. Both primary and secondary sources were used in collecting data. Of 458 targeted respondents, 416 completed the survey questionnaire, 90.82% response rate. In analysing the responses from the questionnaire, descriptive statistics was used. Two statistical tools were used in test of the hypotheses, such as: Chi Square χ2 and One-Sample t-test to assess the level of acceptance or otherwise the null hypotheses. It is seen from the findings that a few expatriates are working in Saipem in the cadre of welders and filters. It is therefore recommended that expatriate quota in Saipem be looked into by NCDMB since a few Nigerians occupy management position in the company.
Is contracting a form of privatization?
Perrot,Jean;
Bulletin of the World Health Organization , 2006, DOI: 10.1590/S0042-96862006001100017
Abstract: contracting is often seen as a form of privatization, with contracts functioning as the tool that makes privatization possible. but contracting is also viewed by some as a means for the private sector to expand in a covert way its presence within the health sector. this article discusses the wider meaning of the term privatization in the health sector and the ways in which it is achieved. privatization is seen here not simply as an action that leads to a new situation but also as one that leads to a change in behaviour. it is proposed that privatization may be assessed by looking at the ownership, management, and mission or objectives of the entity being privatized. discussed also is the use of contracting by the state as a tool for state interventionism that is not based on authoritarian regulation.
Evaluating the Cost of Bad Regulation in Newly Privatized Sectors: The Chilean Case Evaluating the Cost of Bad Regulation in Newly Privatized Sectors: The Chilean Case
Ricardo Paredes
Revista de Análisis Económico (RAE) , 1995,
Abstract: We analyzed a hypothesis suggesting that the newly privatized firms in Chile produced little if any important advantages as they would have performed poorly once privatized and the hypothesis that the regulatory problems were the consequence of obvious mistakes that could have easily be avoided. In spite of the fact that the only way to advance in this debate is by resorting to empirical estimates, no attempts have been made to define the nature of the regulatory problems that would question the convenience of privatization or empirically estimate the losses linked with obviolls mistakes in the regulatory framework. In this paper we do both, analyze whether indeed obvious and easily avoidable regularion problems in Chile's newly privatized sectors exist and, if it is the case, we empirically estimate the costs associated with this kind of problems. Specifically, we explore the nature of the socalled regulatory problems in Chile's newly privatized sectors (Electricity, Telecomm. and Airlines). We measure the welfare costs due to regulatory procedures and compare them with the estimated efficiency gains arising from privatization. We analyzed a hypothesis suggesting that the newly privatized firms in Chile produced little if any important advantages as they would have performed poorly once privatized and the hypothesis that the regulatory problems were the consequence of obvious mistakes that could have easily be avoided. In spite of the fact that the only way to advance in this debate is by resorting to empirical estimates, no attempts have been made to define the nature of the regulatory problems that would question the convenience of privatization or empirically estimate the losses linked with obviolls mistakes in the regulatory framework. In this paper we do both, analyze whether indeed obvious and easily avoidable regularion problems in Chile's newly privatized sectors exist and, if it is the case, we empirically estimate the costs associated with this kind of problems. Specifically, we explore the nature of the socalled regulatory problems in Chile's newly privatized sectors (Electricity, Telecomm. and Airlines). We measure the welfare costs due to regulatory procedures and compare them with the estimated efficiency gains arising from privatization.
A study to measure the impact of privatized industries
Seyed Hossein Miri,Hamideh Aawani
Management Science Letters , 2012,
Abstract: One of the most important issues in privatization is to measure the impact of such decisions on improving efficiency of governmental organizations. Privatization, in the past, has had both positive and negative consequences in different countries. Therefore, it is necessary to measure the impact of privatization in Iran to see the outcome of such decision. In this paper, we present an empirical study to measure the financial performance of the privatized firms three years before and three years after privatization happed using pairwise t-student. We use five financial figures of asset turnover, working capital turnover, return on assets, return on equity and earnings per share. The results indicate that there was no meaningful relationship between these financial figures before and after privatization occurred.
Measuring the performance of privatized banks in Iran  [PDF]
Mohammaad Taghi Samadi
Management Science Letters , 2012,
Abstract: One of the most important concerns in privatization of governmental banks is to see whether there is any change on the performance of the privatized banks or not. The proposed study of this paper performs an empirical investigation on some privatized banks. In our study, we measure two well-known financial figures including return on assets and return on equity two years before and after privatization program. The proposed study uses non-parametric analysis to perform the investigation. The results indicate that there is a meaningful difference between the performance of these banks before and after privatization.
Tax Incentives, Competition and Welfare  [PDF]
Claudio Andre Gondim Nogueira
Modern Economy (ME) , 2012, DOI: 10.4236/me.2012.35080
Abstract: The main objective of this paper is to analyze the impacts of the concession of tax incentives as a tool for entry promotion in a developing region. The simple model and the numerical example presented indicate that the adoption of tax incentives can cause very important effects. The productive structure could be heavily changed and production could increase improving conditions to consumers that benefit from the larger output and lower prices. Furthermore, the need for strategic action by the government in order to increase the chance of success of their development strategies is also emphasized, especially if one considers that firms often behave strategically.
Page 1 /100
Display every page Item


Home
Copyright © 2008-2017 Open Access Library. All rights reserved.