Contract Design, Financing Arrangements and Public Ownership—An Assessment of the US Airport Governance Model

Autor:	Johannes Fuhr, Thorsten Beckers
Rok vydání:	2009
Předmět:	Finance Transaction cost business.industry Corporate governance media_common.quotation_subject Control (management) ComputingMilieux_LEGALASPECTSOFCOMPUTING Transportation Investment (macroeconomics) Negotiation ComputerApplications_MISCELLANEOUS Economics business Revenue bond Inefficiency Capital market Industrial organization media_common
Zdroj:	Transport Reviews. 29:459-478
ISSN:	1464-5327 0144-1647
DOI:	10.1080/01441640802465656
Popis:	US airports negotiate legally binding contracts with airlines and finance large investment projects with revenue bonds. Applying insights from transaction cost economics, we argue that the observed variation in contractual and financing arrangements at US airports corresponds to the parties' needs for safeguarding and coordination. The case evidence presented reveals that public owners set the framework for private investments and contracting. We suggest that airline contracts and capital market control result in comparative efficient investments and act as a check on the cost inefficiency typically linked to public ownership.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::7247b6eb2fa2cdb00c262a06946d4716 https://doi.org/10.1080/01441640802465656 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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