The privatisation experience in the Australian banking and insurance sectors: an explanation of the change in ownership structures

Monica Keneley () and Margaret McKenzie

Accounting History Review, 2008, vol. 18, issue 3, 303-321

Abstract: Deregulation has been a feature of the evolution of financial markets in the past two decades. Extending this trend has been the move to privatise government-owned financial institutions. In the 1990s, Australian governments progressively sold publicly owned banks and insurance institutions. One outcome has been that few of these privatised financial firms exist today, having been absorbed in mergers and acquisitions within the financial services sector. This paper uses an information cost framework to explain the experience of privatised banks and insurers. Our approach points to a dynamic process of organisational change that has influenced the outcomes of privatisation in the financial services sector.

Keywords: privatisation; financial markets; banking and insurance; deregulation; information costs; organisational change (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1080/09585200802383299

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