Private or public? Towards a taxonomy of optimal ownership and management regimes

King, Stephen and Pitchford, Rohan (2008) Private or public? Towards a taxonomy of optimal ownership and management regimes. Economic Record, 84 266: 366-377. doi:10.1111/j.1475-4932.2008.00497.x

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Author King, Stephen
Pitchford, Rohan
Title Private or public? Towards a taxonomy of optimal ownership and management regimes
Journal name Economic Record   Check publisher's open access policy
ISSN 1475-4932
0013-0249
Publication date 2008-09-01
Sub-type Article (original research)
DOI 10.1111/j.1475-4932.2008.00497.x
Open Access Status
Volume 84
Issue 266
Start page 366
End page 377
Total pages 12
Place of publication Carlton, Australia
Publisher Wiley Blackwell
Language eng
Subject 1402 Applied Economics
140207 Financial Economics
Abstract We develop a model to assist policy-makers in their choice between private and public ownership for a broad range of activities, based on managers' ability to divert resources through perks or pet projects. Qualitative information is always required to demonstrate that public ownership is optimal. More 'public' firms are synonymous with greater control of such actions, but generate greater bureaucracy costs. The flat incentives faced by public managers can be socially desirable when commercially productive activities generate large social harms relative to profit, but are undesirable when these activities are either benign or create external social benefits. Applications are discussed.
Keyword Model
Policy-makers
Private ownership
Public ownership
Q-Index Code C1
Q-Index Status Provisional Code

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 5 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 7 times in Scopus Article | Citations
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Created: Wed, 23 Dec 2009, 01:24:35 EST by Elissa Saffery on behalf of School of Economics