We investigate empirically the relationship between ownership identity and the performance of firms in terms of profitability and solvency. Using cross-sectional data covering over 25,000 firms worldwide and by employing various empirical methods, we find robust support for the inferior...

State-owned enterprises (SOEs) play a key role in the economy of many countries. They are usually thought to be in charge of increasing social welfare. At the same time, their relatively low performance poses several problems, including slowing down economic growth. This effect is especially...

The purpose of this paper is to empirically investigate the relationship between ownership identity and the performance of firms in terms of profitability and solvency. Using cross-sectional data covering over 25,000 firms worldwide and by employing various empirical methods, we find robust...

The privatizations of Japanese National Railways (JNR) and Japan Post (JP) have been one of the biggest reforms for state-owned enterprises (SOEs). Since the beginning of the privatization processes in 1987 for JNR and 2007 for JP respectively, the outcomes of these reforms have been reflected...