We discuss the relative merits of public and private ownership. Our starting point is the analysis of Hart, Schleifer and Vishney (HSV), who apply an incomplete contract framework to study the difference between private and public ownership. Our analysis departs from HSV’s model in two aspects. First, we allow for cost-sharing contracts between the government and the firm. Second, we assume tha...

Quality problems have long plagued the nursing home industry. While two-thirds of U.S. nursing homes are investor-owned, few studies have examined the impact of investor-ownership on the quality of care. The authors analyzed 1998 data from inspections of 13,693 nursing facilities representing virtually all U.S. nursing homes. They grouped deficiency citations issued by inspectors into three cat...

Politicians in‡uence the allocation of …nance either directly via state banks, or indirectly via private banks using banking regulation or creditor rights. With state ownership of banks, entrepreneurs may form coalitions to bribe politicians to obtain scarce loans. With private ownership of banks, interest groups may lobby to in‡uence creditor rights to limit access to less established …rms. Wh...

Over the last 20 years, acute-care hospitals in most OECD countries have built up costly overcapacities. From the perspective of economic policy, it is desirable to know how hospitals of different ownership forms respond to changes in demand and are probably best suited to deal with existing overcapacities. This article examines ownership-specific differences in the responsiveness to changes in...

This study examines the relation between ownership concentration and performance of initial public offerings (IPOs) in Thailand during 1989-1993. Ownership concentration plays a crucial role in emerging capital markets such as Thailand and can significantly affect IPO performance. Several testable hypotheses are constructed from the IPO literature to examine short-term and long-term IPO perform...

Title: Domicology: Human Structural Abandonment Author: Hafsa Khan Abstract: Many Midwestern cities have suffered decline, resulting in widespread residential, commercial, and industrial property abandonment. In Muskegon County, 3,312 housing units are either unoccupied, not for sale, not for rent, or are not in seasonal or occasional use. The current system of private property ownership encour...

Digital signature systems provide a way to transfer trust from the public key to the signed data; this is used extensively within PKIs. However, some applications need a transfer of trust in the other direction, from the signed data to the public key. Such a transfer is cryptographically robust only if the signature scheme has a property which we name exclusive ownership. In this article, we sh...

Evaluating the Effect of Ownership Status on Hospital Quality: The Key Role of Innovative Procedures Mortality differences between university, non-teaching public and for-profit hospitals are investigated using a French exhaustive administrative dataset on patients admitted for heart attack. Our results show that innovative procedures play a key role in explaining the effect of ownership status...

We examine the proper scope of public-private partnerships in the context of a project consisting of two tasks, building and operation of a facility. We investigate the optimal arrangement regarding bundling versus unbundling and private ownership versus public ownership. Like Bennett and Iossa (2006), we assume that the innovative activity in the building stage has impacts on, among other thin...