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The effects of privatization and corporate governance of soes in transition economy : the case of Kazakhstan
Lee, Keun Jung - 2020
privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …
Persistent link: https://www.econbiz.de/10012212672
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Do public firms respond to investment opportunities more than private firms? : the impact of initial firm quality
Maksimovic, Vojislav; Phillips, Gordon M.; Yang, Liu - 2017 - This version: December 15, 2017
We track firms at birth and compare the growth pattern of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to attain a larger size later in life and go public. Firms in the top percentile of predicted propensity to go...
Persistent link: https://www.econbiz.de/10011847755
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Capital Market Distortions in Vietnam : Comparing SOEs and Private Firms
Zhou, Fujin - 2018
Financial constraints are expected to be severe in Vietnam, especially for private firms, but there is limited quantitative evidence for the size of financial constraints experienced by SOEs and private firms and the resulting efficiency losses. This paper investigates the size of the capital...
Persistent link: https://www.econbiz.de/10012931151
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The Performance of State-Owned Enterprises and Newly Privatized Firms : Does Privatization Really Matter?
Omran, Mohammed - 2009
While it is well documented that privatization leads to an improvement in the performance of state-owned enterprises … similar pre-privatization situations, i.e. the performance of SOEs. By matching sample firms (privatized) to control firms …, which might put into question the benefits of privatization in Egypt. However, the caveat here is that the findings of no …
Persistent link: https://www.econbiz.de/10014117134
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The performance of state-owned enterprises and newly privatized firms : empirical evidence from Egypt
Omran, Mohammed Fawzy - 2002
Even though it is well documented that privatization leads to an improvement in the performance of state … because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of … following privatization. Matching sample firms (privatized) to control firms (SOEs), I document that privatized firms do not …
Persistent link: https://www.econbiz.de/10011597814
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Are public firms really myopic? : evidence from matching IPO firms at birth
Maksimovic, Vojislav; Phillips, Gordon M.; Yang, Liu - 2020 - This version: March 1, 2020
We track firms at birth and compare the growth and responsiveness to demand shocks of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to go public. Firms in the top percentile of predicted propensity to go public grow 29...
Persistent link: https://www.econbiz.de/10012244886
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Post-Listing Performance and Private Sector Regulation : The Experience of the AIM
Gerakos, Joseph - 2016
We investigate the post-listing experience of companies raising capital on the London Stock Exchange's Alternative Investment Market (AIM). The AIM is unique in that it is privately regulated and relies on Nominated Advisors (Nomads) who compete to bring new listings and provide ongoing...
Persistent link: https://www.econbiz.de/10013008732
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Creating Visibility : Voluntary Disclosure by Private Firms Pursuing an Initial Public Offering
Dambra, Michael - 2020
We draw on Merton (1987) to develop predictions for the benefits of voluntary disclosures made by firms pursuing an initial public offering (IPO) prior to when they begin to provide regulated financial information via their IPO prospectus. We find that voluntarily issuing press releases and...
Persistent link: https://www.econbiz.de/10012851875
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Cashing it in : private-company exchanges and employee stock sales prior to IPO
Larcker, David F.; Tayan, Brian; Watts, Edward M. - 2018
Companies in the United States are staying private longer, and this trend has important implications for companies and their employees. Employees holding equity awards in private companies are restricted from monetizing an illiquid asset that they might need to support their living expenses....
Persistent link: https://www.econbiz.de/10011980323
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Why Don't Share Issue Privatizations Improve Profitability in China?
Li, Bo - 2020
Previous studies show that profitability does not improve after share issue privatization (SIP) in China. We explore … the possibility that the positive privatization effect can be overwhelmed by a negative listing effect, leading to an … samples, we show that there is a positive privatization effect and there is a negative listing effect on profitability. We …
Persistent link: https://www.econbiz.de/10012854433