Privatization reforms have been embraced by different nations and implemented in various industry sectors since the 1980's. Airports have been privatized with airport operators taking a more commercial positioning into account whilst catering for individual stakeholders. It is claimed that airport privatization has led to the emergence of new industry players enabling these airport operators to raise additional capital, improve efficiency, reduce costs, generate new revenue streams and engage in new commercial airport investments in the market economy. Experts in the area of airport performance measurement and strategic airport performance management imply that corporate performance measurement needs to take into account external, internal as well as operational factors. Previously, airport performance was frequently assessed by focusing on financial performance; little attention was given to combining an analysis of financial measures together with non financial measures, especially when airports are complex entities exhibiting monopolistic attributes whilst having extensive social responsibilities. This paper reports the final findings of a PhD study that addresses the views of airport stakeholder groups at Sydney airport regarding the impact of privatization reforms on the operations. The application of a multidimensional ‘airport performance scorecard' based on service, financial and community/ regulators key performance indicators (KPI) is investigated as a possible solution to the difficult problem of assessing privatized airport operations. This proposed integrated performance measurement model aims to link stakeholder theory with airport performance measurement and is based on Kaplan and Norton's Balanced Scorecard Framework. The findings were derived using a qualitative paradigm by combining interviews and archival content analysis whilst analyzing the impact of Sydney airport privatization on its stakeholders. Leximancer qualitative research software assisted the data analysis. The findings from this study provide a source of valuable information for both private and public sector industries and firms in determining relevant measures and models for performance assessment as a result of privatization. The need expressed in the literature for more studies on the Australian privatization experience and in particular the air transport industry and the benefits to its stakeholders was the driver behind this doctoral study on airport privatization.
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