G2TT
来源类型Discussion paper
规范类型论文
来源IDDP182
DP182 Public Ownership: Concepts and Applications
Colin Mayer
发表日期1987-06-01
出版年1987
语种英语
摘要Public ownership is viewed as a restriction on the portfolio of equities held by investors. Three conditions are required to justify such restrictions. First, monitoring and coordination create concentration in supply or demand. Second, complete contracts must be infeasible or undesirable. Third, the creation of property rights may give rise to undesirable outcomes if demand in subsequent periods is uncertain. Using a multiperiod analysis, public ownership may be justified in circumstances in which considerations of flexibility outweigh those of commitment. The paper applies these ideas to an international analysis of ownership in several industries and finds that they are informative about both observed patterns and factors that are prompting change.
关键词investment Privatization Property rights Public ownership Public utilities
URLhttps://cepr.org/publications/dp182
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/529341
推荐引用方式
GB/T 7714
Colin Mayer. DP182 Public Ownership: Concepts and Applications. 1987.
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