Mixed Public-Private Enterprises in Europe: Economic Theory and an Empirical Analysis of Italian Water Utilities. Bruges European Economic Research (BEER) Papers 4/July 2006

Mixed enterprises, which are entities jointly owned by the public and private sector, are spreading all over Europe in local utilities. Well aware that in the vast majority of cases the preference of local authorities towards such governance structure is determined by practical reasons rather than by the ambition to implement new regulatory designs (an alternative to the typical “external” regulation), our purpose is to confer some scientific value to this phenomenon which has not been sufficiently investigated in the economic literature. This paper aims at proposing an economic analysis of mixed enterprises, especially of the specific configuration in which the public partner acts as controller and the private one (or “industrial” partner) as service provider. We suggest that the public service concession to mixed enterprises could embody, under certain conditions, a noteworthy substitute to the traditional public provision and the concession to totally private enterprises, as it can push regulated operators to outperform and limit the risk of private opportunism. The starting point of the entire analysis is that ownership allows the (public) owner to gather more information about the actual management of the firm, according to property rights theory. Following this stream of research, we conclude that under certain conditions mixed enterprises could significantly reduce asymmetric information between regulators and regulated firms by implementing a sort of “internal” regulation. With more information, in effect, the public authority (as owner/controller of the regulated firm, but also as member of the regulatory agency) can stimulate the private operator to be more efficient and can monitor it more effectively with respect to the fulfilment of contractual obligations (i.e., public service obligations, quality standards, etc.). Moreover, concerning the latter function, the board of directors of the mixed enterprise can be the suitable place where public and private representatives (respectively, welfare and profit maximisers) can meet to solve all disputes arising from incomplete contracts, without recourse to third parties. Finally, taking into account that a disproportionate public intervention in the “private” administration (or an ineffective protection of the general interest) would imply too many drawbacks, we draw some policy implications that make an equitable debate on the board of the firm feasible. Some empirical evidence is taken from the Italian water sector.

The private sector, the public sector, and donor assistance in economic development : an interpretive essay /

"PN-AAL-007"--Cover.

Credit for marginal groups; a study of the principal private sector credit institutions providing loans to marginal groups in the countries of the Dominican Republic, Chile, Ecuador, Colombia, and Guatemala.

"Sponsored by: Pan American Development Foundation, in cooperation with: CUNA International, Inc. [and others]"

President's Private Sector Survey on Cost Control : report on Department of Health and Human Services, Public Health Service/Health Care Financing Administration.

Mode of access: Internet.

Jobs in the private sector : use of labor market information : a user's guide with detailed appendices /

"October 1980."

Minority employment prospects in public v. private sector labor markets /

Typescript (photocopy)

Public private cooperation for better transportation.

"UMTA Technical Assistance Program."

Report of the President's Private Sector Survey on Cost Control : hearing before the Committee on Environment and Public Works, United States Senate, Ninety-eighth Congress, second session, on the effect of the report of the President's Private Sector Survey on Cost Control, on Titles V and X of S. 1739, the Water Resources Development Act of 1983, February 22, 1984.

Mode of access: Internet.

Public opinion of a proposed wind farm situated close to a populated area in New Zealand: Results from a cross-sectional study

In accordance with New Zealand’s Resource Management Act 1991, in 2003, electricity generating company Genesis Energy made public its intention to apply for consent to build the Awhitu wind farm. Several community groups claiming to represent the majority opposed this application and in September 2004 consent was declined. The aim was to investigate the attitudes of local community members to the proposed wind farm. A survey was mailed to 500 Franklin residents, systematically selected from the local 2004/2005 telephone directory. Forty questionnaires were returned undelivered. Of the remaining 460, completed questionnaires were returned from 46% (211). Most, 70% (145), residents supported a wind farm being built in their area, with 17% (35) neutral, and only 13% (28) against the farm. There was no statistical difference in respondents’ attitudes between sex, age, or residential proximity to the farm. Respondents listed renewable resource (83%), suitability (78%), and environmental friendliness (76%) as main advantages. Visual unsightliness (24%) and noise pollution (21%) were listed as main perceived disadvantages. Contrary to the assertions of several lobby groups, the majority of local residents support the construction of the Awhitu wind farm. Scientifically robust methods are essential to measure appropriately community attitudes, particularly on contentious issues.

Sociodemographic backgrounds and career decisions of Australian and New Zealand dental students

This article describes the sociodemographic and career selection characteristics of dental students in Australia and New Zealand. A total of 672 dental students participated in the study. The survey covered age, language proficiency, type of school attended, place of residence, parental occupation, and level of education. The respondents had an average age of twenty-two years, with a range of eighteen to fifty. Fifty-six percent of respondents were female, and approximately half had completed secondary education in private schools with 44.3 percent having finished in public schools. The majority of students lived with their parents, with only a few respondents reporting a rural home address (6.8 percent). The majority of students (65.3 percent) had placed dentistry as their first career choice and had most likely made the decision after leaving high school or near the end of high school (81.4 percent), with self-motivation being the major influence on their decision. This study provides a description of the sociodemographic profile of Australian and New Zealand dental students and provides a better understanding of career decision issues. It also highlights areas for further investigation and management by educational institutions and public policy.

Estimating additionality and leverage:between public and private sector equity finance in Ireland (2000 – 2002)

This paper aims to contribute to the debate about the role of the public sector in stimulating greater use of private sector equity for business start-up and growth in two ways. First, to examine the extent to which the provision of public sector equity finance enables individual firms to raise additional funds in the private sector market place. Second, to consider the methodological implications for an economic impact assessment of industrial policy interventions (especially those which include an equity component) at the level of the individual firm. We assess the extent to which there may be indirect positive effects (externalities) associated with public sector financial assistance to individual firms and if so how they distort standard evaluation methodologies designed to estimate the level of additionality of that support. The paper draws upon the results of a recent study of the impact of Enterprise Ireland (EI) financial assistance to indigenous Irish industry in the period 2000 to 2002. The paper demonstrates that a process of re-calibration is necessary in estimates of economic impact in order to account for these positive externalities and the result in this study was a ‘boost’ to additionality. In operational and conceptual terms, the study underlines the importance of the relationship between private and public sector sources of equity finance as an important dynamic in the attempt by industrial and regional policy to stimulate the number of firms with viable investment proposals accessing external equity finance.

Public ownership and control in the private sector

DUE TO COPYRIGHT RESTRICTIONS ONLY AVAILABLE FOR CONSULTATION AT ASTON UNIVERSITY LIBRARY AND INFORMATION SERVICES WITH PRIOR ARRANGEMENT

The link between job satisfaction and organizational commitment:differences between public and private sector employees

Employees in the public and private sectors experience different working conditions and employment relationships. Therefore, it can be assumed that their attitudes toward their job and organizations, and relationships between them, are different. The existing literature has identified the relationship between organizational commitment and job satisfaction as interesting in this context. The present field study examines the satisfaction–commitment link with respect to differences between private and public sector employees. A sample of 617 Greek employees (257 from the private sector and 360 from the public sector) completed standardized questionnaires. Results confirmed the hypothesized relationship differences: Extrinsic satisfaction and intrinsic satisfaction are more strongly related to affective commitment and normative commitment for public sector employees than for private sector ones. The results are discussed, limitations are considered, and directions for future research are proposed.

Corporate governance and the central factors influencing the roles of public and private sector board directors in the United Kingdom

DUE TO COPYRIGHT RESTRICTIONS ONLY AVAILABLE FOR CONSULTATION AT ASTON UNIVERSITY LIBRARY AND INFORMATION SERVICES WITH PRIOR ARRANGEMENT