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Chen, En-Te; Gray, Stephen; Nowland, John - In: Pacific-Basin Finance Journal 20 (2012) 3, pp. 398-415

In this paper, we highlight the existence of multi-founder firms, which were founded by multiple individuals (with no … setting to shed further light on the net valuation effects of founder involvement. In particular, multi-founder firms provide …, CEOs and managers in the same firm. Our analysis indicates that multi-founder firms are more valuable than all other types …

Persistent link: https://www.econbiz.de/10010572485

Political connections, founder-managers, and their impact on tunneling in China's listed firms

Ma, Liangbo; Ma, Shiguang; Tian, Gary - In: Pacific-Basin Finance Journal 24 (2013) C, pp. 312-339

than a CEO's connection. We also find that firms with founder-managers have a stronger resistance to tunneling than those …We investigate the impact of manager political connection and founder status on tunneling in China's listed firms from … with non-founder-managers, which is still observed in firms with politically connected founder-managers. Our results show …

Persistent link: https://www.econbiz.de/10010729566

CEO's financial experience and earnings management

Jiang, Fuxiu; Zhu, Bing; Huang, Jicheng - In: Journal of Multinational Financial Management 23 (2013) 3, pp. 134-145

We study whether Chinese CEOs with financial experience engage in more earnings management or less earnings management than those without such experience. In doing so, we distinguish between accrual-based earnings management and real earnings management. Overall, we find that CEOs with financial...

Persistent link: https://www.econbiz.de/10010664204

Confronting the zombies : policies for productivity revival

Andrews, Dan; McGowan, Muge Adalet; Millot, Valentine - 2017

Policies that spur more efficient corporate restructuring can revive productivity growth by targeting three inter-related sources of labour productivity weakness: the survival of “zombie” firms (low productivity firms that would typically exit in a competitive market), capital misallocation...

Persistent link: https://www.econbiz.de/10011779088

Corporate Bankruptcy, Soft Budget Constraints, and Business Group Affiliation: Evidence from Indian Firms

Komera, Surenderrao; Jijo Lukose P. J. - In: Review of Pacific Basin Financial Markets and Policies … 17 (2014) 03, pp. 1450016-1

We examine the ex-ante performance of 1185 firms that filed for bankruptcy between 1992 and 2009. Evidence suggests that firm specific poor operating performance and industry wide distress are the principal causes (contributing 42% each for cash flow shortfall) of corporate distress. We observe...

Persistent link: https://www.econbiz.de/10010887056

Corporate evolution following initial public offerings in China: A life-course approach

Liu, Jia; Lister, Roger; Pang, Dong - In: International Review of Financial Analysis 27 (2013) C, pp. 1-20

We study the determinants of firms’ post-IPO trajectory in terms of three outcomes: delisting; acquisition with change of corporate control; and acquisition without such change. Our risk assessment models examine some historical and some current information. Variables cover the perspectives of...

Persistent link: https://www.econbiz.de/10010636500

Acquisitions, Management, and Efficiency in Rwanda's Coffee Industry

Macchiavello, Rocco; Morjaria, Ameet - National Bureau of Economic Research - 2022

Well-functioning markets allocate assets to owners that improve firms' management and performance. We study the effects of ownership changes on coffee mills in Rwanda - an industry in which managing relationships with farmers and seasonal workers is important and that has seen many ownership...

Persistent link: https://www.econbiz.de/10013334447

Corporate Governance als Erfolgsfaktor? (Corporate Governance as a Factor of Success?)

Wald, Andreas - In: Industrielle Beziehungen - Zeitschrift fuer Arbeit, … 16 (2009) 1, pp. 67-67

Die Annahme der positiven Wirkung einer „guten“ Corporate Governance auf den Unternehmenserfolg ist ein Grund für die grosse Aufmerksamkeit für dieses Themengebiet. In diesem Beitrag wird der Stand der Forschung zur Erfolgswirkung der Corporate Governance aufgearbeitet. Als Ergebnis laesst...

Persistent link: https://www.econbiz.de/10005771435

DIVIDENDS, CONTROLLING SHAREHOLDERS AND FIRM PERFORMANCE: AN INVESTIGATION OF LARGE FIRMS ON THE HONG KONG STOCK EXCHANGE

HE, TINA T.; LI, WILSON X. B.; TANG, GORDON Y. N. - In: Annals of Financial Economics (AFE) 08 (2013) 02, pp. 1350011-1

This study examines whether dividends payout has a positive contribution to firm performance while taking into account the important firm level characteristics such as the divergence between the control rights and the ownership rights of controlling shareholders and firm leverage. Investigating...

Persistent link: https://www.econbiz.de/10010734045

Channels of size adjustment and firm performance

Breinlich, Holger; Niemann, Stefan; Solomon, Edna - In: Economics Letters 116 (2012) 2, pp. 202-206

We use business register data for the United Kingdom to document the importance of the different channels that firms use to adjust their size. We show how the choice of adjustment channel impacts upon firm-level variables such as wages or productivity.

Persistent link: https://www.econbiz.de/10010597222

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