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Beyond pure public and pure private management models: Mixed firms in the European Airport Industry

Daniel Albalate (), Germà Bel () and Xavier Fageda

No 201221, IREA Working Papers from University of Barcelona, Research Institute of Applied Economics

Abstract: increasing trend in airports. The literature has not paid enough attention to the mixed management models in this industry, although many European airports take the form of mixed firms or Institutional PPP, where ownership is shared between public and private sectors. We examine the determinants of the degree of private participation in the European airport sector. Drawing on a sample of the 100 largest European airports we estimate a multivariate equation in order to determine the role of airport characteristics, fiscal variables and political factors on the extent of private involvement. Our results confirm the alignment between public and private interests in PPPs. Fiscal constraints and market attractiveness promote private participation. Integrated governance models and the share of network carriers prevent the presence of private ownership, while the degree of private participation appears to be pragmatic rather than ideological.

Keywords: Partial Privatization, Mixed Firms, Airports. JEL classification: H4; H54; H7; L88; L9 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eur, nep-pub and nep-tre
Date: 2012-12, Revised 2012-12
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