Public enterprise reforms and efficiency in regulated environments: the case of the postal sector

Purpose - This paper focuses on analyzing the effect that public reforms have on the efficiency of state-owned enterprises in regulated environments. Design/methodology/approach - The research is focused in the postal sector where public and private companies must obey a legal framework related to provide a universal service. The analysis is carried out using a panel of 7 European postal operators for the period 1997-2003. The activity analyzed was the letter mail division; we take as key variable the unit cost of a letter and use a translog cost function where as independent variables we include traffic levels, labor cost per employee, quality and availability of the service as well as the type of ownership (public or private). Additionally, in a second stage the geographical differences among countries are considered. Findings - Results indicate that postal operators that experienced organizational changes without being privatized, such as the Spanish and Greek operators, do not have higher unit costs than privatized postal operators like the one of Germany and the Netherlands. Moreover, we find that in all cases the operator of Ireland appear to be the most efficient. In this case restructuring process has been carried out giving an important leadership role to workers. This suggests us that labor culture could be a key variable to study when analyzing reform processes in public enterprises. Originality/value - Our findings show that in a regulated environment like in the postal sector, public and private companies can obtain similar efficiency levels in term of unit costs.

Valuation of defaultable bonds and debt restructuring

In this paper we develop a contingent valuation model for zero-coupon bonds with default. In order to emphasize the role of maturity time and place of the lender’s claim in the hierarchy of debt of a firm, we consider a firm that issues two bonds with different maturities and different seniorage. The model allows us to analyze the implications of both debt renegotiation and capital structure of a firm on the prices of bonds. We obtain that renegotiation brings about a significant change in the bond prices and that the effect is dispersed through different channels: increasing the value of the firm, reallocating payments, and avoiding costly liquidation. Moreover, the presence of two creditors leads to qualitatively different implications for pricing, while emphasizing the importance of bond covenants and renegotiation of the entire debt.

Estudi i implementació d'un arxivat de dades per a les plataformes SAP Enterprise 4.7 x 200 d'una gran empresa

En aquest projecte s'ha implementat un sistema de data archiving amb SAP-IXOS per a una empresa després que aquesta demanés consell a la nostra consultora per reduir espai en la base de dades, ja que només els quedava lliure un 14% de l'ocupació total, i d'aquesta forma millorar el rendiment del sistema. S'ha realitzat un estudi de la base de dades, ocupació en Mb i creixement mensual de les dades en les taules. S'han parametritzat objectes d'arxivat, creat i definits repositoris de contingut, fitxers lògics i s'han programat reports addicionals per arxivar les dades correctament. El resultat ha estat reduir la base de dades en un 22% sent posible l'entrada de noves dades obtenint una resposta més àgil del sistema.

Organisational status and efficiency: the case of the spanish SOE "Paradores"

The purpose of this paper is to provide new evidence on the issue of the effect on public enterprises economic performance of the introduction of some given changes in organisational status and management practices, while keeping the enterprises under public control. Our approach is case study type and relies on comparative efficiency literature. We identify relevant changes on the organisational status of a State owned large hotel group along a period of twenty years, next we measure its annual efficiency indicators, and then evaluate to which extent the observed changes in economic performance can be attributable to the corresponding management reforms carried out. As a result we find that the formally more relevant change in organisational status (the enterprise passing to be a Limited Company), which implied a substantial increase in the enterprise autonomy, did not produce a significant improvement in its economic performance; a finding contrary to what we expected according to agency theory. However, a second relevant organisational change –five years later- when both the principal (government) and the agent (firm’s CEO) changed is consistently related to a significant improvement in economic performance. As a research implication we abide for use more precise agency theory statements; and as a practical implication we argue here that potentialities of improvement brought about by a formal-legal change in the status of the enterprise may require also –in order to actually improve firm’s efficiency- some changes in the firm’s key personal positions: supervisor (principal) and CEO (agent), in the sense that a change to a greater-autonomy for the enterprise it seems should come together a parallel new ‘management culture’. Practical implications Management good practises to apply to other public enterprise’s restructuring in order to improve their efficiency. It’s the first study on organizational changes and efficiency for an important Spanish public enterprise.

Anàlisi, disseny i implementació d'unaaplicació de gestió de menjadors escolars mitjançant Java Enterprise Edition

Aquest Treball Final de Carrera té per objecte l'anàlisi, disseny i implementació d'una aplicació degestió de menjadors escolars. Aquesta aplicació neix de la necessitat de donar resposta a unademanda dels responsables d'aquests menjadors que es veuen desbordats per controlar totes lesincidències que tenen a veure amb el menjador d'un centre educatiu: des del registre d'un client (alumne, professor o convidat) que entra al menjador a dinar fins al cobrament dels serveiscorresponents.

Implantació EBP Enterprise Buyer Professional

Aquest document vol explicar en què consisteix el sistema EBP, com pot facilitar la gestió de proveïment d'una empresa i quines eines proporciona.

Timetable database restructuring

Heriot-Watt University uses a software package called Syllabus Plus for its timetabling. This package can perform scheduling functions however it is currently employed only as a room booking system at present. In academic session 2008-2009 the university will be restructuring its academic year from 3 terms of 10 weeks to semesters of 14 weeks and therefore major changes will be required to the timetabling information. This project has two functions, both with practical and relevant applications to the timetabling of the university. The aims of the project are the ability to change population number of modules and activities, delete term 3 modules and activities, the ability to change module and activity name, and change the teaching week pattern from the semester

Enterprise semantic Web

This document is a journey through Semantic Web principles and Microsoft SharePoint in order to come to understand some advantages and disadvantages of theirs, and how Semantic Web principles can be blended into an enterprise solution like Microsoft SharePoint.

Determinants of Decentralization within the Firm: Some Empirical Evidence from Spanish Small and Medium- Sized Enterprise

This paper examines empirically the determinants of decentralization of decision- making in the firm for small and medium-sized enterprises (SMEs) that tend to be highly centralized. By decentralization of decisions we mean the delegation of decision rights from the owner or manager to the plant supervisor or even to floor workers. Our findings show that the allocation of authority to basic workers or a team of workers depends on firm characteristics such as firm size, the use of internal networks or the number of workplaces, and workers characteristics, in particular, the composition of the laborforce in terms of education and seniority and whether or not workers receive pay incentives. External factors such as the intensity of competition and the firm s export intensity are also important determinants of the allocation of authority.

F/OSS to promote vendor independence/avoid lock-in in the enterprise

This paper focuses on the use of FLOSS to promote vendor independence/avoid lock-in in the enterprise. It looks at how FLOSS projects follow open standards, how forking prevents lock-in if a project threatens to migrate to a closed-source strategy and how FLOSS lowers the barrier to entry for SMEs wishing to implement and support software. However it also looks at how the adoption of policies mandating open standards instead of FLOSS and how the success of cloud computing threatens to erode those benefits. It discusses ways in which cloud computing can be adopted in the enterprise without forfeiting those advantages and urge corporate and government policy makers to mandate FLOSS rather than be satisfied with open standards.

Adsoption-induced restructuring of gold nanochains

The chemical properties of single-atomic chains of gold atoms are investigated using density functional calculations. The nanochains are shown to be unusually chemically active with strong chemisorption of oxygen atoms and carbon monoxide. The chemisorption energies vary significantly with the strain/stress conditions for the chain. Oxygen atoms are found to energetically prefer to get incorporated into a chain forming a new type of gold-oxygen nanochain with a conductance of one quantum unit. We suggest that the long bond lengths observed in electron microscopy investigations of gold chains can be due to oxygen incorporation.