Privatization and restructuring: an incomplete-contract approach
Privatizations can be delayed due to problems with restructuring. Investment may be inadequate if the restructuring is carried out before a company is privatized. A privatization agency seeking to maximize cash revenue can carry out restructuring efficiently, as can the buyer. One party should take on responsibility for investments that are relationship-specific. Uncertainty is likely to mean underinvestment whether restructuring is carried out by a buyer and a privatization agency.
Publication Name: Journal of Institutional & Theoretical Economics
The corporate culture myth
Most organizations are challenged by the process on how to continuously reinvent themselves in situations of discontinuities and uncertainty. The association between technology and culture, the reality that one results from another developed in a change situation has to be understood. An organization results from an opportunity and its goal is driven by exploitation of the opportunity requiring the development, application and optimisation of a technology.
Publication Name: Long Range Planning
Corporate restructuring and the consolidation of US industry
An examination of 695 US industries in the services, manufacturing and basic sectors shows that industrial concentration did not rise very significantly in the 1980s. Further analysis shows that at the industry level, there was little evidence to support the view that inter-firm asset sales, acquisitions and mergers affected the profile of industrial concentration in the sectors examined.
Publication Name: Journal of Industrial Economics
- Abstracts: Product variety and market structure: a new measure and a simple test. Single-price equilibrium with product differentiation
- Abstracts: A percolation model of innovation in complex technology spaces. Applications of randomized low discrepancy sequences to the valuation of complex securities
- Abstracts: Capital income taxation and welfare in a small open economy. Victorian Values
- Abstracts: Optimal voting rules. Seal of Approval. Approval voting
- Abstracts: Oman's new law on residence of expatriates. Triggers in the Growth of Cancer Cells. Significance of underclass residence on the stage of breast or cervical cancer diagnosis