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ID:
159038
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| Summary/Abstract |
We uniquely analyze the advantages and disadvantages of private ownership versus state ownership under various circumstances by focusing on three aspects: external risk, internal governance, and relative importance of owners versus managers. Our theoretical analysis indicates that private ownership is better than state ownership if the business environment is risky, corruption is limited, or the manager plays a more important role than the owner. Our empirical analysis supports our theoretical findings and reveals that better internal governance, more external risk and greater importance of the manager will magnify the benefits of privatization.
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| 2 |
ID:
181624
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| Summary/Abstract |
South Africa's marine environment is rich in fauna and flora, and renowned for its pristine coral reefs. Yet, with various risks continuing to threaten the future of marine tourism in the Blue Economy, for how long can scuba diving tourism remain a popular marine recreational activity in the region? By means of a case study approach, this article aims to identify the range of domestic and international external risks impacting on dive tourism at a dive tourism hotspot at the iSimangaliso Wetland Park (iWP) in northern KwaZulu-Natal, South Africa. Results suggest that dive operators perceive external risks to be a significant threat to the future of their dive operations. Most pertinent are risks where domestic crime, political instability, depressed economic activity, access to dive tourism hotspots, and restrictive government regulations have impacted the dive tourism industry in the region.
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