ABSTRACT
A Study on Privatization of National Corporations¡XTaking Taiwan Railway Freight Corporation for instance Page: 66
Student: Hsieh Hsien-Tsung Advisor: Professor Yeh Kuang-Shih, Ph. D
Privatization of national corporations represents an effort to swim with the tide of internationalization and liberalization. Taiwan Railway Freight Corporation, incorporated in 1946, gets 80.12% of its shares invested by Taiwan Provincial Government and 19.88% by non-government forwarders. It mainly engages in rail vehicle cleaning and rail cargo handling. As scheduled by Executive Yuan (the Cabinet), it must get privatized by December 2002. But if it fails to tackle bottlenecks under the ¡§Government Procurement Law¡¨ to continually obtain the job contracts, it runs into risk of being shut down, let alone privatization.
The Study first looks into national corporations and privatization by definition, ways of privatization, cases of successfully completed privatization cases, keys to the success. Next, it would look into financial and managerial aspects to look into the Cargo Forwarding Corporation (TRF) to analyze the niches and shortcomings by means of SWOT analysis, external chances and threats. The study will further look into the difficulties confronting privatization to work out feasible ways of privatization, including one preferential choice and four alternatives.
The comparison with the niches and shortcomings in privatization yields the findings privatization would not help improve market structure at all if fulfilled by means of merger, asset auction, dissolution, liquidation or share sales. While its assets are insufficient to pay seniority pay to employees, shareholders and employees are bound to backfire. The study would, therefore, propose that takeover by employees to set up a new corporation must be more feasible.
TRF must face tough challenges in privatization. The ¡§Government Procurement Law¡¨ restriction makes profitability low and the prospects dim. Employees¡¦ rights to work and costs to be incurred in the process of privatization must be urgent tasks to be solved. It is proposed that the government, first of all, coordinate with competent authorities concerned to overcome the bottlenecks in ¡§Government Procurement Law¡¨ and problems to pay off employees. In the premise of assuring employees¡¦ right to work, potential backfire from shareholders and employees should be able to get minimized to have it successfully privatized to attain the goal of perpetuity up to happy win-win strategy to the government, enterprises and employees.
The study aims at TRF and yields conclusions applicable to TRF only. About further politic proposals regarding problems which must be solved beforehand, the future scholars are required to take in-depth probe into the model of management, performance, staff values, transformation in concepts and interests..
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0711102-160150 |
| Date | 11 July 2002 |
| Creators | Hsieh, Hsien-Tsung |
| Contributors | Feng-Lee Lin, Nan-Shyan Chu, Kuang-Shih Yeh |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0711102-160150 |
| Rights | unrestricted, Copyright information available at source archive |
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