Gli effetti delle privatizzazioni sulle imprese: gestione economica e struttura finanziaria

Riccardo Gallo

ECONOMIA E POLITICA INDUSTRIALE, 2003, vol. 2003/118, issue 118

Abstract: Gli effetti delle privatizzazioni sulle imprese: gestione economica e struttura finanziaria (di Riccardo Gallo) - ABSTRACT: The Author intends to measure the effects of privatisation on Italian enterprises (1992-2002) and to assess their similarities with those found by international research on 29 countries (1961-1995): a limited reduction in staff numbers; increased efficiency in those enterprises controlled by multinationals; a lower ratio between financial debts and equity in those enterprises controlled by foreign shareholders. Through analyses of the financial data of 14 privatised enterprises in Italy, the Author did not find many differences between the Italian and international experience, with two exceptions: in Italy privatisation caused a significant decrease in staff numbers as well as in the ratio between financial debts and equity, irrespective of the shareholder?s nationality. This shows that prior to privatisation Italian enterprises were over-staffed and had excessive debts, more than those studied abroad.

Date: 2003
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