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Privatisation: is it a real threat for managers?

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  • Giovanni Fraquelli

    (HERMES, Centro di Ricerca sull’Economia e il Diritto dei Trasporti Pubblici Locali e dei Servizi Regolamentati, Via Real Collegio 30, 10024 Torino.)

Abstract

The privatisation process in Italy is going on but for the biggest firms it is till in progress. Given the context, it is difficult to test the performances after privatisation. However it is possible to analyse the behaviour of the firms during the years immediately close to privatisation.The research compares the four years before privatisation with the previous years. Using a panel of 10 firms, working prevalently in public utility sectors, it is possible to see a significant improvement of efficiency and profitability during the last period before privatisation. The results seem due to two main factors: the reduction of political interference and the risk to be replaced as a real threat for managers of state owned firms.

Suggested Citation

  • Giovanni Fraquelli, 2000. "Privatisation: is it a real threat for managers?," CERIS Working Paper 200008, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    • Handle: RePEc:csc:cerisp:200008
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