dc.contributor.author | CAMBINI, Carlo | |
dc.contributor.author | FILIPPINI, Massimo | |
dc.contributor.author | PIACENZA, Massimiliano | |
dc.contributor.author | VANNONI, Davide | |
dc.date.accessioned | 2016-03-15T13:46:00Z | |
dc.date.available | 2016-03-15T13:46:00Z | |
dc.date.issued | 2011 | |
dc.identifier.citation | Review of law and economics, 2011, Vol. 7, No. 1, pp. 191-213 | |
dc.identifier.issn | 1555-5879 | |
dc.identifier.uri | https://hdl.handle.net/1814/40158 | |
dc.description | Published online: 26 July 2011 | |
dc.description.abstract | This study investigates the effects of the corporatization process – i.e., the transformation of a municipal firm into a limited liability company – on the production costs of local public services whose ownership is maintained by the local government. Theoretical analysis predicts that, even without privatization, corporatization is a potentially effective way to improve efficiency (Shleifer and Vishny, 1994; Stiglitz, 2000). We explore this issue by using information on a typical local utility, such as the bus service provided by public transit systems in Italy, which experienced a reform of the governance towards the corporatization structure during the ’90s. The results on a sample of 33 local bus companies over the period 1993-2002 show that, even if public ownership persists, the transformation of a municipal enterprise into an autonomous company – corresponding to the first stage of the corporatization of local utilities in Italy – or into a limited liability company exerts a reducing impact on production costs. | |
dc.language.iso | en | |
dc.relation.ispartof | Review of law and economics | |
dc.title | Corporatization and firm performance : evidences from publicly provided local transport utilities | |
dc.type | Article | |
dc.identifier.doi | 10.2202/1555-5879.1428 | |
dc.identifier.volume | 7 | |
dc.identifier.startpage | 191 | |
dc.identifier.endpage | 213 | |
dc.identifier.issue | 1 | |