Download or read book Why Performance Contracts for State Owned Enterprises Haven t Worked written by Mary Shirley and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Performance Contracts with State owned Enterprises written by Richard D. Mallon and published by . This book was released on 1983 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Information Incentives and Commitment An Empirical Analysis of Contracts Between Government and State Enterprises written by Lixin Xu and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: May 1997 Written performance contracts, widely touted as a way to help state-owned enterprises improve performance, seem to fail. Why? Because information asymmetry, lack of government commitment, and lack of managerial commitment lead to weak incentives and shirking. Shirley and Xu analyze experience with written performance contracts between developing country governments and the managers of their state-owned enterprises. Such contracts have been a vogue since the mid-1980s, and substantial resources have been sunk into their design and enforcement, yet the few assessments to date show mixed results. Using a simple agency model, they identify how problems of weak incentives stemming from information asymmetry, lack of government commitment, and lack of managerial commitment can lead to shirking. They apply the model to a sample of 12 contracts with monopoly enterprises in six developing countries (Ghana, India, the Republic of Korea, Mexico, the Philippines, and Senegal). All suffer from serious contracting problems. They find no pattern of improved performance that can be attributed to the contracts. Only three of the 12 case-study companies showed a turnaround in total factor productivity after contracts were introduced, six continued past trends, and three performed substantially worse under contracts than they had before. Labor productivity improved at a faster pace in four cases, and deteriorated in none, but the improvement predated the contract. Performance contracting assumes that government's objectives can be maximized, and performance improved, by setting targets that take into account the constraints placed on managers. For this to occur, the principals must be willing to explicitly state their objectives, assign to them priorities and weights, translate them into performance improvement targets, provide incentives to meet those targets (or monitor the agents without incurring significant costs), and credibly signal their commitment to the contract. These conditions failed to materialize. Why would governments adopt contracts to which they were not committed or that were politically unrealistic? Sometimes because it enabled them to get foreign assistance. How explain the managers' lack of commitment? Not surprisingly, managers with information advantages and bargaining power, and with no strong incentives or commitment from the government, used their advantages to manipulate the targets so as to ensure that their performance would be judged satisfactory. Shirley and Xu outline the conditions under which performance contracts might succeed in improving performance. This paper - a product of the Finance and Private Sector Development Division, Policy Research Department - is part of a larger effort in the department to analyze the role of institutions and incentives in public sector management, as well as in the private sector. The study was funded by the Bank's Research Support Budget under the research project The Changing Role of the State (RPO 678-69).
Download or read book Privatization and Control of State owned Enterprises written by Ravi Ramamurti and published by World Bank Publications. This book was released on 1991-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Contract Plans and Public Enterprise Performance written by John R. Nellis and published by World Bank Publications. This book was released on 1989-01-01 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contract plans help clarify goals, increase managerial autonomy, and open a dialogue between management and government -- but their benefits have been oversold.
Download or read book Corporate Governance of State Owned Enterprises written by World Bank Publications and published by World Bank Publications. This book was released on 2014-10-02 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Toolkit provides an overall framework with practical tools and information to help policymakers design and implement corporate governance reforms for state-owned enterprises. It concludes with guidance on managing the reform process, in particular how to prioritize and sequence reforms, build capacity, and engage with stakeholders.
Download or read book Performance Contracting for Public Enterprises written by United Nations. Department for Development Support and Management Services and published by New York : United Nations. This book was released on 1995 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Information Incentives and Commitment written by Mary M. Shirley and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyzes the experience with performance contracts between developing country governments and the managers of their state owned enterprises. It identifies how problems of information asymmetry, incentives, and commitment can lead to shirking. It applies this conceptual framework to a sample of 12 contracts with monopoly state enterprises in six developing countries and finds that all suffer from serious contracting problems and there is no pattern of improved performance that can be attributed to the contracts.
Download or read book Public Enterprise Reform and Performance Contracting written by United Nations. Division for Public Economics and Public Administration and published by . This book was released on 1999 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Empirical Effects of Performance Contracts written by Mary M. Shirley and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance contracts (PCs) - contracts signed between the government and state enterprise managers - have been used widely in developing countries. China's experience with such contracts was one of the largest experiments with contracting in the public sector, affecting hundreds of thousands of state firms, and offered a rare opportunity to explore how PCs work. On average, PCs did not improve performance and may have made it worse. But China's PCs were not uniformly bad; in fact, PCs improved productivity in slightly more than half of the participants. PC effects were on average negative because of the large losses associated with poorly designed PCs. Successful PCs were those that featured sensible targets, stronger incentives, longer terms, managerial bonds, and were in more competitive industries. Selecting managers through bidding was not associated with performance improvement. Good PC features were more often observed in state-owned enterprises (SOEs) under the oversight of local governments, that faced more competition, that were smaller in size, and that had better previous performance.
Download or read book The Power of Governance written by R. Khoza and published by Springer. This book was released on 2007-05-01 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eskom is a South African company that has developed from a state utility under apartheid into a competitive state-owned enterprise. This book draws on the knowledge about corporate governance in state-owned enterprises. It locates Eskom's experience in that context and argues that a state-owned enterprise can be run as efficiently as any other.
Download or read book Performance Contracts written by and published by Commonwealth Secretariat. This book was released on 1995 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets out in some detail the mechanisms for determining enterprise performance and a framework for assessing enterprise productivity accross the board.
Download or read book State Owned Enterprises in Middle East North Africa and Central Asia Size Costs and Challenges written by Mr. Ernesto Ramirez Rigo and published by International Monetary Fund. This book was released on 2021-09-20 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
Download or read book Reforms Opportunities and Challenges for State Owned Enterprises written by Edimon Ginting and published by Asian Development Bank. This book was released on 2020-07-01 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-owned enterprises (SOEs) play significant roles in developing economies in Asia and SOE performance remains crucial for economy-wide productivity and growth. This book looks at SOEs in Azerbaijan, Indonesia, Kazakhstan, the People's Republic of China, and Viet Nam, which together present a panoramic view of SOEs in the region. It also presents insights from the Republic of Korea on the evolving role of the public sector in various stages of development. It explores corporate governance challenges and how governments could reform SOEs to make them efficient drivers of the long-term productivity-induced growth essential to Asia's transition to high-income status.
Download or read book Small Business Program written by United States. General Accounting Office and published by . This book was released on 1992 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Managing State owned enterprises in Ghana written by Joe D. Kpenge and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Governance and State Owned Enterprises How Costly is Corruption written by Ms.Anja Baum and published by International Monetary Fund. This book was released on 2019-11-22 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-owned enterprises (SOEs) are present in key sectors of the economies around the world. While they can provide an important public service, there is widespread concern that their activities are negatively affected by corruption. However, there is limited cross-country analysis on the costs of corruption for SOEs. We present new evidence on how corruption affects the performance of SOEs using firm level data across a large number of countries. One striking result is that SOEs perform as well as private firms in core sectors when corruption is low. Taking advantage of a novel database reforms, we also show that SOE governance reforms can generate significant performance gains.
