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Book Review: Public Enterprise Divestment: Australian Case Studies

Book Review: Public Enterprise Divestment: Australian Case Studies BOOK RHVITWS Cor-rynn, E, McMASTER, J & WnTTENHALL, R historical-inductive research methodology I am Public Enterprise Divestment: general Australian also sceptical of attempts to build theories Case Studies capable of explaining complex politico-economic Pacific Institute phenomena, yet of Management and this does not mean that theory is 'lessons Development, The University of the unimportant. Indeed any of the from the South Pacific, ( pages) 2001 186 case studies' tentatively foreshadowed in the introduction of the volume have could been This latest conffibution to the privatisation debate systematically explored and evaluated throughout from Roger Wettenhall the case paragraph and his associates studies. For example, a is affiliated with the Pacific Institute of Management devoted to explaining that almost all of the provides an divestments anthology of nine case studies of had a negative impact on public public sector divestments in Australia between finances over the longer term, with the up front the proceeds mid- 1980s and mid- I 990s. While the authors from privatisation not meeting the cost of readily acknowledge that there foregone dividends, compensation and alternative are few stones provisions. unturned when it comes to academic accounts of service For me such a finding poses privatisation in Australia and abroad, they questions that warrant careful examination. While make valid point the that much of the existing literature this would have been a more ambitious objective tends to be general in nature and than that which has been attempted, it would have overlooks the greater specific context and dynamics of particular made a contribution to our understanding privatisation of forces privatisation process events. Given the need for more driving the in grounded research capable of shedding light Australia over the period. on the diversity of divestment experiences, the authors select a range of examples, from the Despite being under theorised, the volume does well public provide documented float of GIO Australia, to the a detailed account of important less newsworthy sales of the privatisation events in Australia from the mid- Sydney Fish Market and the NSW Grain Corporation. The 1980s onwards. Indeed the authors have been at common thread among these accounts is a desire to place the forefront of researching and documenting this each of the case in process for over a decade. As such, Public studies historical context and possible, where to comment on the post- Enterprise Divestment: Australian Case Studies privatisation performance represents an important empirical resource for of the transformed practitioners enterprises with a view to providing a longitudinal students, and academics interested in processes. this important and controversial process. assessment of the divestment While the authors should be commended for researching and compiling this Richard Eccleston collection of cases, overall the project is undermined by the absence of School of Politics and Public Policy any coherent analysis of the data presented. Griffith Universitv With the exception of a few pages in the introductory chapter, there is no attempt to develop any type of analytical framework. In fact this self-published volume lacks a consolidated bibliography and a concluding chapter in which the various themes apparent in the empirical work can be explored. While the authors argue that the case studies 'should be compared as wholes not and as over justification simplified parts', this is no for the absence of coherent analysis. As an advocate of a Jouautt oF THE Ausrnttu.\.rND Nzw' Zttt.tuo AcsozMy oF M.tutceurur VoL 8. Nuunm 2 65 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Australian and New Zealand Academy of Management Cambridge University Press

Book Review: Public Enterprise Divestment: Australian Case Studies

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Publisher
Cambridge University Press
Copyright
Copyright © Cambridge University Press and Australian and New Zealand Academy of Management 2002
ISSN
1324-3209
DOI
10.5172/jmo.2002.8.2.65
Publisher site
See Article on Publisher Site

Abstract

BOOK RHVITWS Cor-rynn, E, McMASTER, J & WnTTENHALL, R historical-inductive research methodology I am Public Enterprise Divestment: general Australian also sceptical of attempts to build theories Case Studies capable of explaining complex politico-economic Pacific Institute phenomena, yet of Management and this does not mean that theory is 'lessons Development, The University of the unimportant. Indeed any of the from the South Pacific, ( pages) 2001 186 case studies' tentatively foreshadowed in the introduction of the volume have could been This latest conffibution to the privatisation debate systematically explored and evaluated throughout from Roger Wettenhall the case paragraph and his associates studies. For example, a is affiliated with the Pacific Institute of Management devoted to explaining that almost all of the provides an divestments anthology of nine case studies of had a negative impact on public public sector divestments in Australia between finances over the longer term, with the up front the proceeds mid- 1980s and mid- I 990s. While the authors from privatisation not meeting the cost of readily acknowledge that there foregone dividends, compensation and alternative are few stones provisions. unturned when it comes to academic accounts of service For me such a finding poses privatisation in Australia and abroad, they questions that warrant careful examination. While make valid point the that much of the existing literature this would have been a more ambitious objective tends to be general in nature and than that which has been attempted, it would have overlooks the greater specific context and dynamics of particular made a contribution to our understanding privatisation of forces privatisation process events. Given the need for more driving the in grounded research capable of shedding light Australia over the period. on the diversity of divestment experiences, the authors select a range of examples, from the Despite being under theorised, the volume does well public provide documented float of GIO Australia, to the a detailed account of important less newsworthy sales of the privatisation events in Australia from the mid- Sydney Fish Market and the NSW Grain Corporation. The 1980s onwards. Indeed the authors have been at common thread among these accounts is a desire to place the forefront of researching and documenting this each of the case in process for over a decade. As such, Public studies historical context and possible, where to comment on the post- Enterprise Divestment: Australian Case Studies privatisation performance represents an important empirical resource for of the transformed practitioners enterprises with a view to providing a longitudinal students, and academics interested in processes. this important and controversial process. assessment of the divestment While the authors should be commended for researching and compiling this Richard Eccleston collection of cases, overall the project is undermined by the absence of School of Politics and Public Policy any coherent analysis of the data presented. Griffith Universitv With the exception of a few pages in the introductory chapter, there is no attempt to develop any type of analytical framework. In fact this self-published volume lacks a consolidated bibliography and a concluding chapter in which the various themes apparent in the empirical work can be explored. While the authors argue that the case studies 'should be compared as wholes not and as over justification simplified parts', this is no for the absence of coherent analysis. As an advocate of a Jouautt oF THE Ausrnttu.\.rND Nzw' Zttt.tuo AcsozMy oF M.tutceurur VoL 8. Nuunm 2 65

Journal

Journal of the Australian and New Zealand Academy of Management – Cambridge University Press

Published: Jan 1, 2002

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