Showing 1 - 10 of 31
Based on the Business Environment and Enterprise Performance Survey (BEEPS) of firms in transition countries, which unbundles corruption to measure different types of corrupt transactions and provide detailed information on the characteristics and performance of firms, we find that: i)...
Persistent link: https://www.econbiz.de/10005407674
Family businesses carry the weight of economic wealth creation in most economies. In the U.S. alone, family businesses account for 80 to 90 percent of the 18-million business enterprises in the United States, and 50 percent of the employment and GNP. In many ways, the family business is...
Persistent link: https://www.econbiz.de/10005412922
The paper aims at outlining the existing gaps in Bulgarian corporate governance compared to the standards and the state of corporate governance in developed market economies. The current state of corporate governance, the degree of ownership concentration as well as the strengths and weaknesses...
Persistent link: https://www.econbiz.de/10005412937
The present paper proposes to employ a major shift in the legal and institutional environment to identify contractual incentives from the correlation of executive pay and firm performance. We use the reform of the German stock companies act in 1884 as such a major shift and estimate the...
Persistent link: https://www.econbiz.de/10005413146
In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...
Persistent link: https://www.econbiz.de/10010884312
This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder-sponsored SoP proposals. Adopting SoP leads to large increases...
Persistent link: https://www.econbiz.de/10010959767
The paper studies whether and how CEO turnover in Ukrainian firms is related to their performance. Based on a novel dataset covering Ukrainian joint stock companies in 2002-2006, the paper finds statistically significant negative association between the past performance of firms measured by...
Persistent link: https://www.econbiz.de/10005103255
The paper examines the dependence of firm restructuring on private outside ownership concentration in Czech manufacturing sector after privatization. It starts with the argumentation that the most important actors in the post-privatization ownership structure in the Czech Republic were...
Persistent link: https://www.econbiz.de/10005077013
Corporate Governance deals with the issue of how suppliers of finance to corporations assure themselves of getting a return on their investment. Several Studies have examined the relationship between ownership structure and firm performance. Using di erent data samples most of the studies...
Persistent link: https://www.econbiz.de/10005077035
In this survey, we describe the current state of corporate governance in Russia and discuss its dynamics and prospects. We review the main mechanisms of corporate governance in the country and relate them to firms’ ownership structures, financial market development and government influence....
Persistent link: https://www.econbiz.de/10005086543