CUERVO-CAZURRA, Alvaro; DAU, Luis Alfonso - William Davidson Institute, University of Michigan - 2008
domestic private firms than it does for subsidiaries of foreign firms. Results of the analyses of the largest 500 firms in … improvements in profitability for
domestic state-owned and domestic private firms than it does for subsidiaries of foreign firms … countries.
Keywords: agency theory, structural reform, firm profitability, state-owned firms, private firms,
subsidiaries …