| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP182 |
| 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 |
| URL | https://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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