utilities are large firms with professional management: there is a separation between ownership and control. The agency costs of …The purpose of this Paper is to study the determinants of the concentration of ownership in a privatized, regulated … corporate ownership, and more specifically the degree of shareholder concentration. Another, related issue, to be addressed is …

This paper examines optimal price (i.e. ‘sliding scale’) regulation of a monopoly when efficiency and managerial effort …

We discuss the relative merits of public and private ownership. Our starting point is the analysis of Hart, Schleifer … and Vishny (HSV), who apply an incomplete contract framework to study the difference between private and public ownership … important, public ownership is still preferable to private ownership. …

structurally estimate the key parameters of our model to construct counterfactual size, productivity and welfare distributions …

transport industry, based on game theory models. In our setting, consumers choose a transport mode and an operator to travel on …

Economic development implies that the efficiency of firms in developing countries is approaching that of firms in … privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier … find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not …