Does the Nature of Ownership Matter? Lessons from Theory and Evidence

Abstract

The primary intention of this paper is to seek whether or not ownership matters. By reviewing the literature, I would like to answer such questions as, what drives differences between private and public firms? Do those differences imply advantages that should make citizens prefer one type of ownership to another? Does privatization provide significant productivity improvement? Both theoretical and empirical evidences confirm that the nature of ownership is important. Changes in managerial incentives and enterprise objectives are likely to affect the performance of enterprises, like macroeconomic conditions, and/or technological developments

Keywords

• State ownership, state owned enterprises, privatization and firm behavior

Abstract

Bu çalışmanın amacı, mülkiyet farklılığının (kamu veya özel) ekonomik anlamda önemli olup olmadığının araştırmaktır. Başka bir ifadeyle, teorik ve ampirik literatür gözden geçirilerek ‘‘kamu ve özel firmalar arasında verimlilik açısından farklılığa sebebiyet veren faktörler nelerdir? Bu farklılıklar, ülke vatandaşlarının mülkiyet türü üzerinde özel bir tercihte bulunmalarını gerektirir mi? Özelleştirme firmaların verimliliğinde anlamlı bir artış yaratır mı?‘’ gibi sorulara cevap aranmaktadır. Teorik ve ampirik literatür üzerinde yapılan analiz, mülkiyetin önemli bir unsur olduğu sonucunu desteklemektedir. Özel mülkiyetle birlikte, gerek yöneticilerin motivasyonlarındaki değişme gerekse mülkiyet sahiplerinin amaçlarındaki değişme bir teknolojik yenilik gibi firmaların performansını etkileyebilmektedir.

Keywords

• kamu mülkiyeti, kamu firmaları, özelleştirme, firma davranışları

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