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首页> 外文学位 >Seeking the economic kingdom: The impact of state majority ownership of the Ghana Bauxite Company on company performance.
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Seeking the economic kingdom: The impact of state majority ownership of the Ghana Bauxite Company on company performance.

机译：寻求经济王国：加纳铝土矿公司的国家多数股权对公司绩效的影响。

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摘要

Since the onset of state majority ownership in 1974, the Ghana Bauxite Company (GBC) began a ten-year decline in commercial performance. The thesis' objective is to examine the linkage between state ownership and poor performance. It is hypothesized that the firm's performance will be affected by a conflict in goals between the government and the company. A second hypothesis links the degree of autonomy held by management to the efficiency of the firm's operations.;The performance of the GBC is evaluated in terms of the company's goals and the government's goals, as derived from the Joint Venture Agreement (JVA). This reveals wide unanimity between the two parties over a number of political, economic, and social goals. Many of these were achieved, but the commercial goals of expanding exports and foreign exchange earnings were not. Thus, the hypothesis that company performance could be explained by conflicting goals is refuted. The management's complete autonomy refutes the second hypothesis.;The thesis then seeks to explain the shortfall in the GBC's economic commercial performance. Two key factors affected performance. One, Ghana's economic decline meant that the overvalued exchange rate, inflation, and import licensing system impacted adversely on the company. Two, the GBC was completely reliant on the railway for bauxite carriage. Thus, the railway's growing deterioration constrained the GBC's exports. The railway's decline, the GBC's near-collapse, and Ghana's adverse economic environment are explained by governments' transport, economic, and mineral policies from 1974-83.;The GBC's performance improved sharply under policy changes made in 1984-86, under the Economic Recovery Programme. The ERP introduced liberalized economic policies--particularly, the devaluation of the currency-- and rehabilitation of the railway. The GBC's turnaround directly supports the thesis' arguments that factors external to state ownership militated against the firm's successful commercial performance.;This thesis demonstrates that managerial autonomy, not ownership, is key to predicting SOE performance. However, managerial autonomy, while important, is not a sufficient guarantor of performance-- both the macroeconomic environment and institutional relationships are critical to SOE behavior. Finally, current privatization efforts are likely to be successful only in the context of economic liberalization.
机译：自1974年国家拥有多数股份以来，加纳铝土矿公司（GBC）的商业业绩开始出现十年来的下滑。本文的目的是检验国家所有权与绩效不佳之间的联系。假设企业的业绩将受到政府与公司之间目标冲突的影响。第二个假设将管理层的自主程度与公司运营效率联系起来。GBC的绩效是根据合资企业协议（JVA）得出的公司目标和政府目标进行评估的。这揭示了两党在许多政治，经济和社会目标上的广泛共识。其中许多目标已经实现，但扩大出口和外汇收入的商业目标并未实现。因此，驳斥了可以用相互矛盾的目标来解释公司绩效的假设。管理层的完全自治权驳斥了第二个假设。然后，本文试图解释GBC经济商业绩效的不足。影响性能的两个关键因素。首先，加纳的经济下滑意味着高估的汇率，通货膨胀和进口许可证制度对该公司产生了不利影响。第二，GBC完全依赖铁路运输铝土矿。因此，铁路的日益恶化限制了GBC的出口。 1974-83年间政府的运输，经济和矿产政策解释了铁路的衰落，GBC的崩溃和加纳的不利经济环境；在1984-86年的经济改革下，GBC的绩效急剧提高。恢复计划。 ERP引入了自由化的经济政策，特别是货币贬值和铁路修复。 GBC的转变直接支持了论文的论点，即认为国有所有权外部因素会影响公司的成功商业绩效。本论文表明，管理自主而非所有权是预测国有企业绩效的关键。但是，管理自主权虽然很重要，但不能充分保证绩效—宏观经济环境和机构关系对国有企业的行为都至关重要。最后，当前的私有化努力只有在经济自由化的背景下才可能成功。

著录项

  • 作者

    Hendrixson, Karen Leslie.;

  • 作者单位

    Fletcher School of Law and Diplomacy (Tufts University).;

  • 授予单位 Fletcher School of Law and Diplomacy (Tufts University).;
  • 学科 International law.;Public administration.
  • 学位 Ph.D.
  • 年度 1989
  • 页码 309 p.
  • 总页数 309
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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