Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises

@article{Boardman1989OwnershipAP,
  title={Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises},
  author={A. Boardman and A. Vining},
  journal={The Journal of Law and Economics},
  year={1989},
  volume={32},
  pages={1 - 33}
}
THE property rights theory of the firm suggests that public enterprises should perform less efficiently and less profitably than private enterprises. However, the existing empirical evidence actually provides weak support for this hypothesis. Most of the evidence is based upon North American "firms" and has compared the performance of matched public and private firms where at least one of the following limitations applies: (1) firms have a natural (spatial) monopoly (namely, electric and water… Expand
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