To exploit the economies of scale and scope in multi-product technologies, enterprises in advanced capitalist countries grew in the last 150 years in three directions. By substituting in the place of traditional entrepreneurs professional managers, they developed organisational capabili-ties to...

The objective in this paper is to improve the existing evidence regarding the role ownership plays in economic efficiency. It is pursued through enhancements in modeling, estimation techniques, and experimental design. With respect to modeling, state ownership is explicitly introduced into the...