摘要：India adopted mixed economy after independence,aiming socialistic pattern,throughheavy investment in the public sector enterprises (PSE) the performance of which laterbecame a matter of concern.Therefore,Government af India (GOI) started reform programsto reduce the size and expenditure of the Pubic sectors,and restructuring the PSEs.In 1991GOI initiated a radical economic reform to increase the privale sectors participation and thefficiency of public sector investment,Therefore,the management af various stakeholdersbecome crucial for the success or.failure of the disinvestment policies.This paper imvestigatesthe disinvestment in National Aluminium Company Limited (2002-03 and 2005-06),a fullyowned government of 'India enlerprise through case method,based on empirical data.Thepurpose of 'the paper is to understand what can be the sel of linkages among actors,ideas,actions,and desirable outcomes,agreed upon by stakeholders to determine the fctivenesof the reform.The insight from the case is combined with the insight from the literature andother materials.Findings,managerial implications,and recommendations are discussed.
