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Privatization in Italy: an analysis of factors productivity and technical efficiency

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    Abstract

    This work aims at investigating the changes in technical efficiency following the privatization of 39 Italian medium-sized firms operating in competitive sectors. Using Data Envelopment Analysis over a period of 10 years we highlight that, apart from acquisitions by foreign groups, there have not been significant changes in the levels of total efficiency. The only statistically significant change concerns the strong recovery in labour productivity that showed to be continuous even during the period undergoing public control. The results, in contrast with the main theoretical predictions, shift attention to the Italian financial market. A weak incentive system and the low competition in the access to the market for corporate control seem to be the main explanatory variables.

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    File URL: http://www.ceris.cnr.it/ceris/workingpaper/1999/wp05_99_Erbet_Fraq.pdf
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    Bibliographic Info

    Paper provided by Institute for Economic Research on Firms and Growth - Moncalieri (TO) in its series CERIS Working Paper with number 199905.

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    Length: 31 pages Keywords : Privatization, DEA, Efficiency
    Date of creation: Jun 1999
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    Handle: RePEc:csc:cerisp:199905

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    Cited by:
    1. Luigi Benfratello, 1999. "Beyond Profitability: Effects Of Acquisitions On Technical Efficiency And Productivity In The Italian Pasta Industry," CERIS Working Paper 199914, Institute for Economic Research on Firms and Growth - Moncalieri (TO).
    2. Luigi Benfratello, 1999. "Determinants And Effects Of Mergers And Acquisitions: An Analysis Based On The Notifications To Antitrust Authorities," CERIS Working Paper 199915, Institute for Economic Research on Firms and Growth - Moncalieri (TO).

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