The aim of this paper is to consider the problem of politicians＇ control of state-owned enterprises in a transforming economy. The control of a company can be treated as a choice of a strategy pursued by this company...The aim of this paper is to consider the problem of politicians＇ control of state-owned enterprises in a transforming economy. The control of a company can be treated as a choice of a strategy pursued by this company. In order to present politicians＇ influence on a company＇s strategy, we consider the case of a firm controlled by the State Treasury （i.e., by politicians） and a company outside politicians＇ control, both functioning in a favorable and an unfavorable state of the economy. We propose the option-to-switch valuation model as a method of measuring politicians＇ private benefits of control. We illustrate the considerations using data concerning Poland＇s printing industry.展开更多
The present study is part of the Executive Scientific Project 2 in the ItalMed Project which aims to elaborate a feasibility study for new transport connections between Italy and Algeria. The main objectives of the st...The present study is part of the Executive Scientific Project 2 in the ItalMed Project which aims to elaborate a feasibility study for new transport connections between Italy and Algeria. The main objectives of the study are to increase the degree of economic integration between the two countries and improve commercial exchanges and direct investments in Algeria by Italian private companies. Moreover, the study tries to promote Italy＇s role as logistic platform for Mediterranean Countries along the east-west and north-south corridors and to improve the capacity of Italian regions to manage international cooperation programs on transport and logistics, finally, to support regional entrepreneurship in the foreign services sector.展开更多
文摘The aim of this paper is to consider the problem of politicians＇ control of state-owned enterprises in a transforming economy. The control of a company can be treated as a choice of a strategy pursued by this company. In order to present politicians＇ influence on a company＇s strategy, we consider the case of a firm controlled by the State Treasury （i.e., by politicians） and a company outside politicians＇ control, both functioning in a favorable and an unfavorable state of the economy. We propose the option-to-switch valuation model as a method of measuring politicians＇ private benefits of control. We illustrate the considerations using data concerning Poland＇s printing industry.
文摘The present study is part of the Executive Scientific Project 2 in the ItalMed Project which aims to elaborate a feasibility study for new transport connections between Italy and Algeria. The main objectives of the study are to increase the degree of economic integration between the two countries and improve commercial exchanges and direct investments in Algeria by Italian private companies. Moreover, the study tries to promote Italy＇s role as logistic platform for Mediterranean Countries along the east-west and north-south corridors and to improve the capacity of Italian regions to manage international cooperation programs on transport and logistics, finally, to support regional entrepreneurship in the foreign services sector.
