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

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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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
Date of revision:
Handle: RePEc:csc:cerisp:199905
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  4. Schmidt, Klaus M., 1996. "The costs and benefits of privatization: An incomplete contracts approach," Munich Reprints in Economics 19773, University of Munich, Department of Economics.
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  12. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, June.
  13. Boussofiane, A. & Dyson, R. G. & Thanassoulis, E., 1991. "Applied data envelopment analysis," European Journal of Operational Research, Elsevier, vol. 52(1), pages 1-15, May.
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  17. Dilling-Hansen, M. & Eriksson, T. & Madsen, E.S. & Smith, V., 1999. "The Influence of Competition and Ownership Structure on the Performance of Sanish Manufacturing Firms," Papers 99-9, Aarhus School of Business - Department of Economics.
  18. Nickell, Stephen & Wadhwani, Sushil & Wall, Martin, 1992. "Productivity growth in U.K. companies, 1975-1986," European Economic Review, Elsevier, vol. 36(5), pages 1055-1085, June.
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