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Doing Business in Newly Privatized Markets

Doing Business in Newly Privatized Markets
Author: Russell Miller
Publisher: Bloomsbury Publishing USA
Total Pages: 342
Release: 2000-08-30
Genre: Business & Economics
ISBN: 0313004323

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During the past decade, thousands of former state-controlled companies in more than 100 different countries have entered the private sector. These firms range in size and commercial significance from small family-owned kiosks in Russia to some of the largest, most influential corporations in Western and Central Europe, Latin America, and Asia. Miller provides a comprehensive, business-oriented perspective on the origin and geographic expansion of the privatization movement, and describes the methods that governments use and the objectives they hope to achieve in the divestment of state assets. He identifies the formative influences on these new companies, as well as the operating needs created by the privatization process. Privatization-intensive markets are examined in relation to their importance, type of companies involved, and the challenges they present. Miller's book also discusses alternate methods of market expansion, such as reaching newly privatized firms through a strategic marketing program. His book will be essential reading for academicians and graduate students in international business and world trade, as well as their practitioner counterparts in corporations and multilateral development agencies.


Privatization in Developing Countries

Privatization in Developing Countries
Author: Narjess Boubakri
Publisher:
Total Pages:
Release: 2012
Genre:
ISBN:

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The privatization efforts of most developing countries are inhibited by embryonic financial markets, weak regulatory capacity, and a public sector that accounts for a large share of GDP. Many, particularly those with low per capita income, lack some of the main ingredients for a successful privatization, such as capital, entrepreneurs, and competent managers. But some of these countries have large markets and fast economic growth rates, features that make the success of government divestiture more likely. This Note describes the results of a study that set out to determine whether privatization is beneficial in the economic environments and institutional settings of these countries by examining how privatization affects firms' financial and operating performance in a broad set of developing countries.


Doing Business in Emerging Markets

Doing Business in Emerging Markets
Author: S. Tamer Cavusgil
Publisher: SAGE
Total Pages: 322
Release: 2002
Genre: Business & Economics
ISBN: 9780761913757

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Doing Business in Emerging Markets: Entry and Negotiation Strategies is an authoritative and timely guide for executives who are contemplating business in these markets. Including numerous exhibits and real-world examples, the authors explore analysis and evaluation of market potential, management of the negotiation process, and the recognition of important regional business styles and cultural issues. Students and professors in MBA or Ph.D. programs in international management, marketing, and strategy will also find this an invaluable aid to understanding emerging markets.


Privatization, State Capitalism, and State Ownership of Business in the 21st Century

Privatization, State Capitalism, and State Ownership of Business in the 21st Century
Author: William L. Megginson
Publisher:
Total Pages: 153
Release: 2017
Genre: Electronic books
ISBN: 9781680833393

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This study summarizes the economic and political developments relating to privatization, state capitalism, and state ownership of business since 2000 and then surveys the extensive recent research examining these issues empirically. Through the early 21st century, there was an unambiguous global trend towards reducing government ownership of business enterprise, but this trend has since at least been slowed, and perhaps even reversed. We discuss the factors that have promoted a global resurgence of state ownership, then define and analyze the new ideology labeled "state capitalism." Recent research examines whether privatization improves the operating and financial performance of divested companies, as well as when, where and how governments decide to privatize individual companies and how these sales are priced. All the performance studies surveyed document significant improvements after companies are divested. Recent academic and professional research categorizes and evaluates various types of state owners; examines determinants of the level of state ownership; studies how state ownership impacts the valuation of corporate assets and examines the relative efficiency of state versus private ownership; and assesses how state ownership impacts corporate financial policies, especially capital investment. This research highlights that different types of state owners have very different impacts on corporate value and performance, and that state ownership generally has a significant, and mostly pernicious, impact on corporate investment and financial policies. The separate effect of state ownership on corporate valuation is less clear-cut. This survey also summarizes recent empirical research examining the relationship between state ownership of business assets and financial markets and institutions, and also surveys the literature examining political connections between politicians and corporate managers. Sovereign wealth fund research yields essentially benign findings, but almost all studies examining state-owned banking show that state ownership reduces banks' efficiency. All the financial markets and institutions studies examined highlight the distortive effects and economic costs of bailouts and guarantees, and almost all the political connections studies find that these connections are privately beneficial but socially costly. Finally, the research surveyed here convinces the author that "state capitalism" is an essentially failed model.


The Entrepreneurial State

The Entrepreneurial State
Author: Mariana Mazzucato
Publisher: Penguin
Total Pages: 313
Release: 2024-02-06
Genre: Business & Economics
ISBN: 0593656946

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Award-winning economist Mariana Mazzucato’s famously incisive international bestseller debunking the pervasive myth of the inept state versus an innovative private sector—with a new preface by the author According to conventional wisdom, innovation is best left to the bold entrepreneurs of the private sector, and government should get out of the way. But what if that wasn't case? What if, from the inventions of Silicon Valley to medical breakthroughs, the public sector has actually been the most courageous and valuable risk-taker of all? Critically acclaimed and influential thinker and scholar Mariana Mazzucato argues comprehensively against the myth of a lumbering, bureaucratic state versus a dynamic, innovative private sector with remarkable original and deep research. In a series of case studies—from nanotechnology to the emerging green tech of today—Mazzucato reveals that the opposite is true: the private sector only finds the courage to invest after an entrepreneurial state has made the high-risk investments. The Entrepreneurial State reveals how every technology that makes the iPhone so “smart” was actually funded by the government—from the Internet and GPS technology, to touch-screen displays and voice-activated Siri. In the history of modern capitalism, the State has not only fixed market failures, but has also actively shaped and created markets. In doing so, it sometimes wins and sometimes fails. Yet by not admitting the State’s role in active risk taking, we've created an "innovation system" where the public sector socializes risks while privatizing reward, as Mazzucato controversially argues. This bold and provocative book considers how we adopted this dysfunctional dynamic, and then how we can overcome it so that economic growth can be not only "smart" but "inclusive" as well.


The Privatization of Everything

The Privatization of Everything
Author: Donald Cohen
Publisher: The New Press
Total Pages: 360
Release: 2021-11-23
Genre: Political Science
ISBN: 1620976625

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The book the American Prospect calls “an essential resource for future reformers on how not to govern,” by America’s leading defender of the public interest and a bestselling historian “An essential read for those who want to fight the assault on public goods and the commons.” —Naomi Klein A sweeping exposé of the ways in which private interests strip public goods of their power and diminish democracy, the hardcover edition of The Privatization of Everything elicited a wide spectrum of praise: Kirkus Reviews hailed it as “a strong, economics-based argument for restoring the boundaries between public goods and private gains,” Literary Hub featured the book on a Best Nonfiction list, calling it “a far-reaching, comprehensible, and necessary book,” and Publishers Weekly dubbed it a “persuasive takedown of the idea that the private sector knows best.” From Diane Ravitch (“an important new book about the dangers of privatization”) to Heather McGhee (“a well-researched call to action”), the rave reviews mirror the expansive nature of the book itself, covering the impact of privatization on every aspect of our lives, from water and trash collection to the justice system and the military. Cohen and Mikaelian also demonstrate how citizens can—and are—wresting back what is ours: A Montana city took back its water infrastructure after finding that they could do it better and cheaper. Colorado towns fought back well-funded campaigns to preserve telecom monopolies and hamstring public broadband. A motivated lawyer fought all the way to the Supreme Court after the state of Georgia erected privatized paywalls around its legal code. “Enlightening and sobering” (Rosanne Cash), The Privatization of Everything connects the dots across a wide range of issues and offers what Cash calls “a progressive voice with a firm eye on justice [that] can carefully parse out complex issues for those of us who take pride in citizenship.”


Reforming Infrastructure

Reforming Infrastructure
Author: Ioannis Nicolaos Kessides
Publisher: World Bank Publications
Total Pages: 328
Release: 2004
Genre: Business & Economics
ISBN:

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Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.


Privatization in Eastern Europe

Privatization in Eastern Europe
Author: Roman Frydman
Publisher: Central European University Press
Total Pages: 239
Release: 1994-01-01
Genre: Business & Economics
ISBN: 9633864917

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In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.