Explaining the Variance in the Performance Effects of Privatization
代理理论和公共选择理论认为私有化会平均提升企业绩效，但无法解释观察到的结果差异。本文提出需考虑组织和情境变量，并构建模型解释私有化引发的管理、治理、目标、激励、控制、战略和组织变化。
Agency and public choice theories of privatization indicate that a privatized firm's performance will improve on average, but they do not include an explanation of the observed variance in this result. We argue that organizational and contextual variables need to be considered in order to explain that variance. We develop a model and propositions about the changes that privatization triggers in the firm's management, governance structure, goals, incentives, control, strategy, and organization.