Management of newly privatized companies: Its importance and how little weknow

Despite the extensive privatization efforts throughout the world since 1980 , state-owned enterprises still contribute a significant share of GDP of ma ny countries. Both developing and developed countries are committed to furt her reduce the role of their state sector and to stimulate efficiency in th eir economies. Privatization is, and will continue to be, an important and major activity in this process. Successful privatization however, requires sound management policies on the part of newly privatized industries. In or der to ensure the success of privatization, more attention should be paid t o the reforms in management and in governance of newly privatized industrie s. (C) 1999 Published by Elsevier Science Ltd. All rights reserved.