Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/20072 https://doi.org/http://dx.doi.org/10.1016/j.jbusres.2016.12.001 |
Resumo: | This article contributes to the literature by testing six research hypotheses regarding the impact of partial privatisation on firms' performance. We measure performance using Data Envelopment Analysis (DEA), the Malmquist Index and ratios related to labour productivity, profitability and capacity utilisation. We use the Wilcoxon Signed Rank test to compare the performance after privatisation with that before privatisation. The hypotheses are tested with data from a chain of Portuguese heritage hotels, partially privatised in 2003. We conclude that productivity growth after privatisation is superior to productivity growth before privatisation due to technological progress. However, due to a frontier regress observed in the privatisation year, total factor productivity and profitability deteriorated after privatisation. This suggests that both efficiency changes and frontier shifts should be taken into account in order to accurately assess the impact of privatisation. |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Does partial privatisation improve performance? Evidence from a chain of hotels in PortugalPrivatisationPerformanceEfficiencyDEAMalmquist productivity indexThis article contributes to the literature by testing six research hypotheses regarding the impact of partial privatisation on firms' performance. We measure performance using Data Envelopment Analysis (DEA), the Malmquist Index and ratios related to labour productivity, profitability and capacity utilisation. We use the Wilcoxon Signed Rank test to compare the performance after privatisation with that before privatisation. The hypotheses are tested with data from a chain of Portuguese heritage hotels, partially privatised in 2003. We conclude that productivity growth after privatisation is superior to productivity growth before privatisation due to technological progress. However, due to a frontier regress observed in the privatisation year, total factor productivity and profitability deteriorated after privatisation. This suggests that both efficiency changes and frontier shifts should be taken into account in order to accurately assess the impact of privatisation.The authors are pleased to acknowledge financial support from FCT – The Portuguese National Funding Agency for Science, Research and Technology (Grant UID/ECO/04007/2013) and FEDER/COMPETE (POCI-01-0145-FEDER-007659) – CEFAGE (Carla Amado and Sérgio Santos) and COMPETE, FEDER, Portugal 2020 under the Project UID/HIS/00057/2013 (POCI-01-0145-FEDER-007702) - CIDEHUS (Jaime Serra).Elsevier2017-01-26T10:31:09Z2017-01-262017-01-03T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/20072http://hdl.handle.net/10174/20072https://doi.org/http://dx.doi.org/10.1016/j.jbusres.2016.12.001engAmado, C., Santos, S., & Serra, J (2017). Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal, Journal of Business Research, Vol 73, April 2017, 9-19.http://www.sciencedirect.com/science/journal/01482963/73camado@ualg.ptssantos@ualg.ptjserra@uevora.pt256Amado, CarlaSantos, SérgioSerra, Jaimeinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T19:09:35Zoai:dspace.uevora.pt:10174/20072Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:11:33.382346Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
title |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
spellingShingle |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal Amado, Carla Privatisation Performance Efficiency DEA Malmquist productivity index |
title_short |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
title_full |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
title_fullStr |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
title_full_unstemmed |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
title_sort |
Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal |
author |
Amado, Carla |
author_facet |
Amado, Carla Santos, Sérgio Serra, Jaime |
author_role |
author |
author2 |
Santos, Sérgio Serra, Jaime |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Amado, Carla Santos, Sérgio Serra, Jaime |
dc.subject.por.fl_str_mv |
Privatisation Performance Efficiency DEA Malmquist productivity index |
topic |
Privatisation Performance Efficiency DEA Malmquist productivity index |
description |
This article contributes to the literature by testing six research hypotheses regarding the impact of partial privatisation on firms' performance. We measure performance using Data Envelopment Analysis (DEA), the Malmquist Index and ratios related to labour productivity, profitability and capacity utilisation. We use the Wilcoxon Signed Rank test to compare the performance after privatisation with that before privatisation. The hypotheses are tested with data from a chain of Portuguese heritage hotels, partially privatised in 2003. We conclude that productivity growth after privatisation is superior to productivity growth before privatisation due to technological progress. However, due to a frontier regress observed in the privatisation year, total factor productivity and profitability deteriorated after privatisation. This suggests that both efficiency changes and frontier shifts should be taken into account in order to accurately assess the impact of privatisation. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-01-26T10:31:09Z 2017-01-26 2017-01-03T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10174/20072 http://hdl.handle.net/10174/20072 https://doi.org/http://dx.doi.org/10.1016/j.jbusres.2016.12.001 |
url |
http://hdl.handle.net/10174/20072 https://doi.org/http://dx.doi.org/10.1016/j.jbusres.2016.12.001 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Amado, C., Santos, S., & Serra, J (2017). Does partial privatisation improve performance? Evidence from a chain of hotels in Portugal, Journal of Business Research, Vol 73, April 2017, 9-19. http://www.sciencedirect.com/science/journal/01482963/73 camado@ualg.pt ssantos@ualg.pt jserra@uevora.pt 256 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Elsevier |
publisher.none.fl_str_mv |
Elsevier |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799136597720956928 |