The Grey Chronicles


Recommendations for Further Studies

In as much as this study only dealt with a very brief period of time in NSC’s history (1994-2000) and limited in scope (production), as a follow-up to this research, the following studies could be done in the future:

The NSC Flat Steel Production from 1974 to 1994: This study could provide insights on the internal changes—capacity and technology upgrades, management initiatives, etc.—during this period and explain its growth in terms of production parameters over time.

The comparison of NSC’s financial performance for the period 1983-1994 versus 1995-2000: This study could give insights on the impact of privatization to NSC’s corporate performance, in line with previous studies, such as Megginson, Nash, and van Randenborgh (2004), and Boubakri and Cosset (1998).

The impact of Plant Facilities Preservation activities during the NSC-Liquidator period 2000-2004 to the eventual resumption of NSC facilities’ operational status: This study could give an alternative viewpoint on the effectiveness of the Liquidator-NSC preservation efforts, which might have benefited GSPI’s shorter rehabilitation of NSC facilities to months rather than years, as initial assessments predicted.

Several points have been raised in the recommendations after the SWOT/TOWS analyses above. These are all worthy of separate studies, such as: the effect of Human Resource on NSC production, including the impact of supervision, the effect of unionism, or the perceived contribution of expatriates; the viability of installing new business systems, e-commerce, SCADA, environmental monitoring system to production, and others.

With these abovementioned further studies, it is imperative that all NSC’s electronic and paper-based documents—financial and production records, standards, and the like—should be preserved, microfilmed, catalogued, and kept in a designated archives open to researchers for the benefit of future generations. If US Steel and Bethlehem Steel have libraries keeping records dating back from their respective inception dates, the former NSC, if not the Philippines steel industry, deserves to have one, too.

National Steel Corporation may no longer physically exist but lessons from its existence for thirty years from its incorporation in 1974 to its corporate demise in 2004 are relevant to any of NSC’s future incarnations as well as its future researchers. To paraphrase a proverb: not learning from the past is a presage of repeating the same.


Megginson, William L., Robert C. Nash, and Matthias van Randenborgh (1994). The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis. Journal of Finance, Vol 49: pp. 403–52. back to text

Boubakri, Narjess and Cosset, Jean-Claude (1998), Privatization in Developing Countries: An analysis of the performance of newly privatized firms. Public Policy for the Private Sector, No. 156, November 1998. pp 1-4. back to text


Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Create a free website or blog at

%d bloggers like this: