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Executive Compensation, Firm Performance, and State Ownership in China: Evidence from New Panel Data*

Kato, Takao; Long, Cheryl - William Davidson Institute, University of Michigan - 2004

This paper provides the first systematic evidence on compensation for executives of firms listed in China’s emerging …, using comprehensive financial and accounting data on China’s listed firms from 1998 to 2002 (data modeled after Compustat … shareholder value in China. The size of the estimated sensitivities imply that a 1000 RMB increase in shareholder value yields a 0 …

Persistent link: https://www.econbiz.de/10005677675

INTERNATIONAL FINANCIAL INTEGRATION AND REAL EXCHANGE RATE LONG-RUN DYNAMICS IN EMERGING COUNTRIES

RAULT, Christophe; CAPORALE, Guglielmo Maria; AMOR, … - William Davidson Institute, University of Michigan - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10008529004

ARE EMERGING ECONOMIES FDI INFLOWS COINTEGRATED WITH FDI INFLOWS OF CHINA? – AN EMPIRICAL INVESTIGATION

Chaitanya, Krishna; Rozas, Emilia Vazquez - William Davidson Institute, University of Michigan - 2008

Emerging economies viz., Brazil, China, India, Mexico and South Africa have seen a tremendous increase in the FDI … inflows in the last one decade. Amongst all, the FDI inflows of China witnessed sharp rise from 1992. As on 2006, China stood …

Persistent link: https://www.econbiz.de/10005677554

Foreign Exchange Interventions in Croatia and Turkey: Should We Give a Damn?

Égert, Balázs; Lang, Maroje - William Davidson Institute, University of Michigan - 2005

This paper studies the impact of daily official foreign exchange interventions on the exchange rates of two EU candidate countries, namely Croatia and Turkey for the periods from 1996 to 2004 and from 2001 to 2004, respectively. Using the event study methodology and a variety of GARCH models...

Persistent link: https://www.econbiz.de/10005652665

Does Institutional Quality Affect Firm Performance? Insights from a Semi-Parametric Approach

Bhaumik, Sumon; Dimova, Ralitza; Kumbhakar, Subal C.; … - William Davidson Institute, University of Michigan - 2012

Using a novel modeling approach, and cross-country firm level data for the textiles industry, we examine the impact of institutional quality on firm performance. Our methodology allows us to estimate the marginal impact of institutional quality on productivity of each firm. Our results bring...

Persistent link: https://www.econbiz.de/10010545915

Does Institutional Quality Affect Firm Performance? Insights from a Semi-Parametric Approach

Bhaumik, Sumon; Dimova, Ralitza; Kumbhakar, Subal C.; … - William Davidson Institute, University of Michigan - 2012

Persistent link: https://www.econbiz.de/10010552177

The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland

Angelucci, Manuela; Estrin, Saul; Konings, Jozef; … - William Davidson Institute, University of Michigan - 2002

This paper uses a unique representative firm level data set to analyse the effect of domestic and international competitive pressure and ownership changes in three emerging economies, Bulgaria Poland and Romania. Our main findings can be summarized as follows: Domestic competitive pressure,...

Persistent link: https://www.econbiz.de/10005677517

Firm Performance and the Political Economy of Corporate Governance: Survey Evidence for Bulgaria, Hungary, Slovakia and Slovenia

Walsh, Patrick Paul; Whelan, Ciara - William Davidson Institute, University of Michigan - 2000

Using survey data for 220 traditional manufacturing firms over 7 years of transition and 4 CEE countries, we find firms that produced for the EU market under planning consistently outperform those that produced for the CMEA market. Within the previously CMEA market, the best firms were selected...

Persistent link: https://www.econbiz.de/10005677528

THE EFFECTS OF PRIVATIZATION AND INTERNATIONAL COMPETITIVE PRESSURE ON FIRMS’ PRICE-COST MARGINS: MICRO EVIDENCE FROM EMERGING ECONOMIES1

Konings, Jozef; Cayseele, Patrick Van; Warzynski, Frederic - William Davidson Institute, University of Michigan - 2003

relevance for other emerging economies, such as China and Vietnam, which still have to undergo major privatization programs. …

Persistent link: https://www.econbiz.de/10005677637

Impact of M&A on firm performance in India: Implications for concentration of ownership and insider entrenchment

Bhaumik, Sumon Kumar; Selarka, Ekta - William Davidson Institute, University of Michigan - 2008

performance. On the one hand, concentration of ownership that, in turn, concentrates management control in the hands of a strategic investor, eliminates agency problems associated with dispersed ownership. On the other hand, it may lead to entrenchment of upper management which may be...

Persistent link: https://www.econbiz.de/10005677683