Showing 1 - 10 of 200
Over the last millennium, the clan and the city have been the locus of cooperation in China and Europe respectively … advantage in pursuing collective actions. Moral groups perpetuate due to positive feedbacks between morality, institutions, and …
Persistent link: https://www.econbiz.de/10011084470
ownership throughout the economy. …
Persistent link: https://www.econbiz.de/10005666779
In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate … performance, little association between concentrations of ownership with managerial disciplining and only limited evidence that … pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore …
Persistent link: https://www.econbiz.de/10005666867
ownership-legal form categories of firms. By using a large panel of quarterly observations, we eliminate biases introduced by …
Persistent link: https://www.econbiz.de/10005666955
This Paper studies the objective function of state-owned banks. Using information on individual loan contracts, I compare the interest rate charged to two sets of companies with identical characteristics borrowing respectively from state-owned and privately owned banks. State-owned banks charge...
Persistent link: https://www.econbiz.de/10005788914
The relation between IMF conditionality and country ownership of assistance programs is considered from a political … conditionality and ownership. The Paper stresses a conflict between a reformist government and domestic interest groups that oppose … reform, leading to a distinction between government and country ownership of a program. A model of lending and policy reform …
Persistent link: https://www.econbiz.de/10005788965
We show that a cross-listing allows a firm to make better investment decisions because it enhances stock price informativeness. This theory of cross-listings yields a rich set of new predictions. In particular, it implies that the sensitivity of investment to stock prices should be larger for...
Persistent link: https://www.econbiz.de/10005791921
Economic development implies that the efficiency of firms in developing countries is approaching that of firms in advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent alternative models of implementing development policies,...
Persistent link: https://www.econbiz.de/10005792168
This Paper analyses the effects of ownership structure on corporate environmental performance and examines the link … from financial performance to environmental performance in a transition economy. In particular, it analyses these ownership … ownership and various types of private ownership, while contrasting concentrated and diffuse forms of private ownership …
Persistent link: https://www.econbiz.de/10005123506
corporations. We investigate this question by tracing the ownership and board composition of firms incorporated in around 1900 over … the subsequent 100 years, and comparing the pattern of ownership and control with a sample incorporated around 1960. We … outside equity finance, and there was rapid dispersion of ownership even in the absence of investor protection. The …
Persistent link: https://www.econbiz.de/10005123634