Abstract
Privatization literature and theories sympathetic to neo-liberalism suggest that privatization leads to greater efficiency in the production of public sector goods and services. Airports have also been privatized largely because of their commercial rather than public value orientation. Because of the complex nature of their operations, airports are accountable to a range of stakeholders. This article provides insight to how airport privatization has not only led to a change of the airport business in general but how its disclosure of corporate and social activity has changed over time. Utilizing Ullmann’s (1985) framework of corporate social reporting, pre and post privatization reports of Sydney Airport have been analyzed. Results of the analysis re-emphasize an existing “myth†that privatization has resulted in improved company performance, efficiency of operations and social disclosure. Furthermore, the quality and volume of the financial reports have increased with time, consistent with the argument that privatized companies are in the process of continuous learning whilst adapting to the “private sector†and the need to keep arkets, analysts and credit raters informed. This study is part of a larger study assessing the impact of privatization on airports in Australia.
Original language | English |
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Number of pages | 10 |
Journal | Journal of the Asia Pacific Centre for Environmental Accountability |
Publication status | Published - 2006 |
Keywords
- airport business
- airport privatization
- airports
- corporate social reporting
- social disclosure