CUERVO-CAZURRA, Alvaro; DAU, Luis Alfonso - William Davidson Institute, University of Michigan - 2008
differently. Hence, we propose that structural reform results in higher improvements in profitability for domestic state-owned and … firms (Cuervo-Cazurra, 2007, 2008; Guillen, 2005), and
to have facilitated investments, but weak institutions limited the …
firms in developed countries, which have well established institutions and where structural
reform consists primarily of …