本研究考察了影响民营化对巴基斯坦电信公司(PTCL)的财务表现。变量“净利润”,“营业利润”、“资产收益率”和“每股收益”、“交易股份数作为财务绩效表示。对平均差异的配对样本t检验被用来比较私有化前后的绩效。财务数据分析表明,私有化后净利润率、营业利润率、资产收益率和每股收益都有所下降;但除经营利润率外,所有变量的影响都不显著。由于资源和知识的匮乏,私有化对员工绩效和管理的影响仍然是一个潜在的问题和进一步研究的问题。
许多公司和公共机构的业绩不佳,表明政府原则上不是一个好商人。在这方面,私有化是一种全球现象,被认为是导致经济增长、提高生产率、提高资源利用效率和扩大产出和就业的工具。理性的消费者以优质服务和低价格的形式从私营企业中获得利益,特别是在银行、航空旅行和电信部门。由于我们文化的僵化,公共部门的公司与私营公司相比变得不灵活和动态。总的来说,可以说私有化是一个更广泛的经济政策的一部分,被称为一些政府的经济释放或与世界经济的联系。私有化是改变政府活动条件的过程,以便使主要环境得到修正,但各部门的气氛发生变化,市场气氛和条件对公司业绩的影响可能考虑私营部门的机制。
This research study investigates the impact of privatization on the Pakistan Telecommunication Company Limited (PTCL) financial performance which is privatize in 2005.The variables 'Net Profit Margin', 'Operating Profit Margin', 'Return on Assets' and 'Earnings per Share' and 'Number of trades of shares' are used as representation for financial performance. The paired-samples t test for mean difference has been used for comparing the pre and post privatization performance. Analysis of the financial data shows decline in the net profit margin, operating profit margins, return on assets and earnings per share after the privatization; but the impact is insignificant for all the variables except the operating profit margin. The effects of privatization on employees' performance and management remain a potential problem and issue for further research due to shortage of resources and knowledge.
Effect of Privatization on Performance 私有化对绩效的影响
Poor performance of many companies and public institutions in general has shown that in principle the government is not a good businessman. In this regard Privatization, a global phenomenon considered as a tool that leads to economic growth, increase in productivity, efficiency in utilization of resources and expansion in output and employment. The rational consumer takes benefits from competition among private firms in the form of better quality services and low prices especially in banking, air travel and telecommunication sectors. Due to rigidity in our culture, Public Sector companies do not become flexible and more dynamic as compared to Private companies. In general, it can be claimed that privatization is a part of a broader economic policy which is referred to as the economic release or connecting to the world economy by some governments. Privatization is the process of changing the conditions of governmental activities so that the major context is fixed but the atmosphere of the sectors changes and the effect of atmosphere and conditions of markets on companies' performance is likely to consider private sectors' mechanisms
Telecommunication plays a vital role in the economic development of any country. PTCL was privatized in 2005. Due to the privatization of PTCL, overall financial performance and the share prices of the PTCL became volatile. This purpose of this study is to study dynamic aspects of privatization and compare the pre and post privatization financial performance of the company.
An overview of PTCL PTCL的概述
In 1947, after independence, Pakistan had an insufficient telecom base. Only 14,000 land lines were there in whole country and only one department of Telephone and Post Telegraph. In 1962 these two departments were alienated as Postal department and Telephone and
Telegraph Department (T&T). Pakistan started gradually enhancement in telecommunication sector in 1990. The brief
history of PTCL is as
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