First published in 1981, this edited collection reviews the operations of state-owned enterprises, examining the actual performance of such organisations in the advanced industrialised countries. The authors consider the regularities and characteristics of state-owned enterprises, in particular the persistent efforts of managers to increase their autonomy and escape from the oversight of government agencies and the public. Chapters consider principles of finance and decision-making in these organisations and provide a truly international perspective with case studies in Italy, France and Britain. This is a timely reissue in context of the current economic climate, which will be of great value to students and academics with an interest in the nationalisation of companies, international business and the relationship between governments and managers.
Preface; 1. Introduction Raymond Vernon 2. Economic Theory and Financial Management John Lintner 3. Decision Making in the State-Owned Enterprise Howard Raiffa 4. On Finance and Decision Making Kenneth J. Arrow 5. The Italian Enterprises: The Political Constraints Franco A. Grassini 6. The Italian Experience: A Historical Perspective Alberto Martinelli 7. The French Experience: Conflicts with Government John-Pierre C. Anastassopoulos 8. The British Experience: The Case of British Rail Michael Beesley and Tom Evans 9. State-owned Oil Companies: Western Europe Øystein Noreng 10. Public Control and Corporate Efficiency Sabino Cassese 11. Accountability and Audit E. Leslie Normanton 12. State Trading M. M. Kostecki 13. Managerial Discretion Yair Aharoni; Notes on Contributors; Index