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Ownership Changes (ownership + change)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	80%

Selected Abstracts

The Effect of Hospital Ownership Conversions on Nonacute Care Providers

THE MILBANK QUARTERLY, Issue 4 2003
DEBORAH GUREWICH
Since 1985, the proportion of for-profit community hospitals has hovered around 15 percent (AHA 1988, 2002). Although nonprofit hospital conversions to for-profit status have yet to significantly alter the overall distribution of investor ownership in the hospital sector, the consequences continue to cause considerable concern (Claxton et al. 1997; Cutler 2000). This is true primarily because investor ownership imposes new fiduciary responsibilities that may undermine a hospital's implicit social contract to meet the needs of the community it serves, regardless of profitability. Given this, many worry that for-profit health institutions will harm local communities, particularly the availability of services for uninsured and underinsured populations. Thus, much attention has focused on the impact of ownership change on a hospital's provision of uncompensated care and other unprofitable but socially valuable services. [source]

INTERNATIONAL TRENDS IN WATER UTILITY REGIMES

ANNALS OF PUBLIC AND COOPERATIVE ECONOMICS, Issue 1 2007
Yeti Nisha Madhoo
ABSTRACT,:,This paper provides the taxonomy of country experiences in managing their water utilities. Institutions for water supply for various uses and their financial implications are analysed. Different episodes of governmental intervention in water supply and charging are examined. From the survey of different regimes and the existing literature, cost recovery and affordability emerge as the major building blocks for any reform of water utilities. Privatization of water services in terms of ownership change, public-private arrangements and international involvement seems to be a mixed blessing and donor assistance to water projects raises issues in international inequality and does not increase cost recovery levels. Cost recovery is positively associated with economic development, institutional quality and performance of water utilities. [source]

Comparative Analysis of Ownership Transformation and Performance Relationship among Major and Regional Banks in Australia

THE AUSTRALIAN ECONOMIC REVIEW, Issue 2 2006
Kandiah Jegasothy
This article attempts to clarify existing doubts with respect to the performance of private and privatised banks versus public banks; that is, it is an attempt to clarify the ownership,performance relationship. The analysis takes explicit account of the privatisation transformation, including its intermediary stage, and the status of the economy. The ownership,performance model is estimated using cross-sectional time-series data and is used to test the influence of ownership changes on performance. Alternative performance measures are considered. The empirical findings show that ownership transformation in the case of regional banks has resulted in improved performance, whilst the benefits in the case of major banks were not significant, even though these banks have become more competitive. [source]

The Limits of Discipline: Ownership and Hard Budget Constraints in the Transition Economies

THE ECONOMICS OF TRANSITION, Issue 3 2000
Roman Frydman
The existing literature on soft budget constraints suggests that firms may be subsidized for political reasons or because of the creditors' desire to recover a part of the sunk cost invested in an earlier period. In all these models hard budget constraints are viewed as being, in principle, capable of inducing the necessary restructuring behaviour on the level of the firm. This paper argues that the imposition of financial discipline is not sufficient to remedy ownership and governance-related deficiencies of corporate performance. Using evidence from the post-communist transition economies, the paper shows that a policy of hard budget constraints cannot induce successful revenue restructuring, which requires entrepreneurial incentives inherent in certain ownership types (most notably, outside investors). The paper also shows that the policy of hard budget constraints falters when state firms, because of inferior revenue performance and less willingness to meet payment obligations, continue to pose a higher credit risk than privatized firms. The brunt of state firms' lower creditworthiness falls on state creditors. But the ,softness' of these creditors, while harmful in many ways, is not necessarily irrational, if it prevents the demise of firms that are in principle capable of successful restructuring through ownership changes. [source]

High Involvement Work Systems and Job Insecurity in the International Iron and Steel Industry

CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, Issue 1 2001
Nicolas Bacon
The different factors behind globalization and the emergence of high involvement work practices do not necessarily carry similar implications for labour. The purpose of this paper is to examine the effects of high involvement work systems upon workers in the steel industry. The authors present results from a series of cross-national sun>eys conducted in 1998 with 39 national trade unions from over 30 countries measuring issues such as job security, ownership changes, numerical flexibility, and union density. The findings are consistent with U.S. data reported by Osterman (1998) indicating that new work practices provide no defense against an environment of heightened Insecurity. Résumé Les différents facteurs qui encouragent la mondialisa-tion et le dévoloppement de nouvelles pratiques de travail, dites "high involvement" (travail en équipes, rotation des fonctions, plus grande autonomie des employés) n'entraînent pas nécessairement des consequences semblables pour la main d'oeuvre. Nous examinons dans cette étude les effets de ces pratiques "high involvement" sur les travailleurs métallurgiques. Les auteurs publient les résultas de sondages interna-tionaux effectués en 1998 auprès de 39 syndicats dans plus de 30 pays, permettant de mesurer la sécurité d'em-ploi, les changements de propriétaire, la flexibilité numérique et la concentration syndicate. Leurs résultats s'accordent avec des donnés provenant des E-U tels que dans Osterman (1988), et démontrent que ces nouvelles de travail ne sont pas une défense contre un environe-ment plus hostile que jamais. [source]