Corporate social responsibility and privatization policy in a mixed oligopoly
Corporate social responsibility and privatization policy in a mixed oligopoly
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DOI：
10.1007/s00712-018-00651-7
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发表时间：
2019-09
影响因子：
1.7
通讯作者：
Seung-Leul Kim;Sang‐Ho Lee;Toshihiro Matsumura
中科院分区：
文献类型：
--
作者：
Seung-Leul Kim;Sang‐Ho Lee;Toshihiro Matsumura
本文阐述了一个混合寡头垄断，其中一个上市公司与两个私人公司，可能采取企业社会责任（CSR）的竞争。然后，我们确定了最优的私有化政策，并发现，根据企业的社会责任水平和成本差异，国有化或完全私有化可以是最优的。对于相同的成本函数，我们还表明，最佳的私有化程度是减少与企业社会责任的水平，如果私营企业是同质的，而它是非单调的企业之间的目标的显着异质性与企业社会责任的水平。我们的分析表明，企业社会责任活动，影响企业之间的异质性的大小是至关重要的，在选择一个最优的私有化政策在混合寡头垄断。
This article formulates a mixed oligopoly in which a public firm competes with two private firms that may adopt corporate social responsibility (CSR). We then determine the optimal privatization policy and find that, depending on CSR level and cost differences among firms, either nationalization or full privatization can be optimal. For identical cost functions, we also show the optimal degree of privatization is decreasing with the level of CSR if private firms are homogeneous, while it is non-monotone with the CSR level in a significant heterogeneity of objectives among the firms. Our analysis suggests that CSR activities that affect the magnitude of heterogeneity among firms are crucial in choosing an optimal privatization policy in a mixed oligopoly.