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Privatization: Implications Of A Shift From State To Private Ownership

Ravasi, D; Radic, M; Munir, K; (2021) Privatization: Implications Of A Shift From State To Private Ownership. Journal of Management , 47 (6) pp. 1596-1629. 10.1177/0149206320988356. Green open access

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Abstract

Privatization—defined here as the transfer of ownership of state-owned organizations to private parties—has attracted the attention of scholars across multiple fields. Privatization programs have been based on the assumption, grounded in microeconomic theory, that a shift from public to private ownership will incentivize more efficient management of available resources. However, failure to deliver the expected outcomes in some cases and the more nuanced perspective on state-ownership offered by recent research in management seem to challenge this assumption, calling for revisiting this literature. Our comparative review of existing studies suggests that the mixed results of privatization programs could be partly explained by what was privatized, how it was privatized, and the regulatory regime under which it was privatized. By doing so, our review provides conceptual clarity and structure to a rich but fragmented body of literature, making seemingly divergent findings more legible, outlining theoretical gaps, and identifying avenues for future exploration.

Type: Article
Title: Privatization: Implications Of A Shift From State To Private Ownership
Open access status: An open access version is available from UCL Discovery
DOI: 10.1177/0149206320988356
Publisher version: https://doi.org/10.1177/0149206320988356
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions.
Keywords: business & government/political economy, macro topics, corporate governance, downsizing/layoffs/restructuring, change management
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
URI: https://discovery.ucl.ac.uk/id/eprint/10118484
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