During the past two decades, it was witness a dramatic global shift in economic policy away from state-owned enterprises (SOEs) towards privatization. Since privatization improves incentives, a rapid transfer of ownership and control right should be desirable. In Taiwan, the Executive Yuan of the government organized a group to promote privatization in 1989 and the officers then took the initiative to carry out the privatization program enthusiastically. By classifying the privatization process into two stages, we analyzed the effect of different stock floatation schedules, different underwriting mechanisms, and different levels of government intervention on ownership structure and corporate governance. Based on the model inference, we found that when maximizing stock floating revenue, wider share ownership, and promoting the SOEs¡¦ efficiency, a sequential transfer of ownership and control right should be better than privatized instantaneously. Under the same goals, the mechanism with partial public offering and partial auction was better than the mechanism with partial public offering and partial book building. Finally, it was not optimal for government to intervene the operating of SOEs after privatization.

In the beginning stage of economic development in Taiwan, the market was lack of funding and the capital market is immature. The majority of financial institutions are public banks. With the development of financial liberalization, Taiwan government lifted the restrictions on establishing private commercial banks on 1991. Following that, public banks face challenges of the fierce competition with private banks, comply with policy of the authorities to authorize special policy loans or generally take over insolvent banks. The public banks were under such severe challenges and the under performing problems were expected to be solved only by privatization. Consequently, following the Act Governing the Conversion of State Owned Enterprises into Private Enterprises entered into effect in 1992, the Privatization of public banks in Taiwan began. Since the Asia finance turmoil occurred, the operation of financial institution significantly deteriorates. The overall Non-Performing Loan Ratio is high due to low financial institution loan quality. In addition, Taiwan banks face a severe problem that whether the current overall domestic financial market is too small for all the current financial institutions? Is the operation scale of Taiwan banks competitive internationally? Presuming the current operation scale of Taiwan banks is weak among international competition, what are the development alternatives for Taiwan banks? The research scope of this study is based on the current general operations, merger cases, and the development strategies applied in the second stage financial reform of Taiwan banks. In the case study, the merger case targeted is the most successful merger in the second stage financial reform, where the financial product development is improved by the merger synergy. In addition, the policy goals to reduce the number of government-owned banks by half and facilitate introduction of foreign funding are realized, which contributes to Taiwan economic development. This study first introduces the overall development of public banks, followed by case studies of operating performance and financial data on Taiwan Cooperative Bank and the Farmers Bank of China. This study is conducted through the operating performance analysis on two targeted banks and overall banks. The analysis includes return on assets, return on equity, earning per share. Also the analysis includes the comparison analysis of market competition status with financial holding companies, which is critical reference to evaluate the development potential when the Taiwan Cooperative Banks establishes a financial holding company in the future. The analysis further includes combined market analysis, and SWOT analysis to compare the strengths, weaknesses, opportunities and threats of these two public banks.

<p>Background:</p><p>In Sweden, air traffic control is currently performed in a mo-nopoly with the state owned Luftfartsverket as the only sup-plier. A deregulation process has been initiated with the ration-ale of cost reductions, both for airports and airline passengers.</p><p>Problem and purpose:</p><p>Economic arguments have been predominant for this potential deregulation and the underlying assumptions are that private al-ternatives would improve efficiency and reduce costs. This has lead the authors to identify what private alternatives would do differently than the current public operator in order to offer these benefits.</p><p>Method:</p><p>To fulfill the purpose the authors have used a qualitative ap-proach based on interviews with the current public operator as well as a new potential private alternative. In addition to this, interest organizations and regulative agencies have been con-tacted and secondary data incorporated to provide a holistic perspective.</p><p>Conclusion:</p><p>The authors have identified differences in activities between a public and private alternative that would create an advantageous effect on the market. They are: a different management of re-tirement funds, prolonged retirement age, new compensation system, altered recruitment policy, a full utilization of staff and a seizing of non-value adding activities.</p>

<p>This study analyses whether urbanization and poverty have any importance for private sector participation (PSP) in the water sector, in developing countries. In the beginning of the 1990’s there was a surge in the interest of the private sector to participate in water and sanitation projects, after a long period of public dominance. There is a large need for investments since much of the population in developing countries does not have access to water and sanitation services and the demand is increasing. At the same time the water sector is prone to inefficiencies resulting from externalities and natural monopoly characteristics, and is therefore often highly regulated.</p><p>A negative binominal regression model is used for the analysis. The dependent variable is the number of water and sanitation projects with private sector participation in a country. The independent variables are population, GDP/capita, aid, debt, water resources, government effectiveness, degree of urbanization and degree of poverty. The main results are that urbanization is positively significant for PSP in the water sector, while poverty has no significant effect.</p>

Thesis (M. Hous. M.)--University of Hong Kong, 2001. / Includes bibliographical references.

Thesis (M.P.A.)--University of Hong Kong, 2001. / Includes bibliographical references (leaves 123-127).

Thesis (M.S. in Management)--Naval Postgraduate School, September 2003. / Thesis advisor(s): Joseph G. San Miguel, Rodney E. Tudor. Includes bibliographical references (p. 81-83). Also available online.

Thesis (M.S.)--Naval Postgraduate School, 2003. / Title from title screen (viewed Nov. 19, 2003). "March 2003." Includes bibliographical references (p. 125-126). Also issued in paper format.

Thesis (Ph. D.)--Hong Kong University of Science and Technology, 2003. / Includes bibliographical references. Also available in electronic version. Access restricted to campus users.

Thesis (M.U.D.)--University of Hong Kong, 1992. / Includes bibliographical references (leaves 102-121).