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Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?
Tian, Lihui; Estrin, Saul - Institute for the Study of Labor (IZA) - 2005
The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized …
Persistent link: https://www.econbiz.de/10005822452
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Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel
Earle, John S.; Telegdy, Álmos - Institute for the Study of Labor (IZA) - 2001
We construct and analyze a unique database with 1992-99 information on privatization transactions and labor productivity for the entire surviving population of initially state-owned industrial corporations in Romania. The data permit us to describe the post-privatization ownership structure and...
Persistent link: https://www.econbiz.de/10005566810
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Legal Corruption, Politically Connected Corporate Governance and Firm Performance
Domadenik, Polona; Prašnikar, Janez; Svejnar, Jan - Institute for the Study of Labor (IZA) - 2014
In this paper we present and test a theory of how political corruption, found in many transition and emerging market … institutions that do not punish political corruption result in political connectedness of firms that in turn has a negative effect …
Persistent link: https://www.econbiz.de/10010884312
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Corruption, Networking and Foreign Ownership: Recent Evidence from CEE Countries
Pal, Sarmistha - Institute for the Study of Labor (IZA) - 2013
The present paper argues that the effect of corruption on foreign ownership is not necessarily linear and depends on … the level of host corruption. So long as the expected returns from foreign investments exceed its expected costs, higher … host corruption will be associated with higher foreign ownership. However, costs may exceed or exactly compensate the …
Persistent link: https://www.econbiz.de/10010698823
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Do Foreign Owners Favor Short-Term Profit? Evidence from Germany
Dill, Verena; Jirjahn, Uwe; Smith, Stephen C. - Institute for the Study of Labor (IZA) - 2014
Comparing domestic- and foreign-owned firms in Germany, this paper finds that foreign-owned firms are more likely to focus on short-term profit. This influence is particularly strong if the local managers of the German subsidiary are not sent from the foreign parent company. Moreover, the...
Persistent link: https://www.econbiz.de/10010884296
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Say Pays! Shareholder Voice and Firm Performance
Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria - Institute for the Study of Labor (IZA) - 2014
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
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Performance Effects of Appointing Other Firms' Executive Directors to Corporate Boards: An Analysis of UK Firms
Muravyev, Alexander; Talavera, Oleksandr; Weir, Charlie - Institute for the Study of Labor (IZA) - 2014
This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002-2008. Our findings suggest a positive relationship between the presence of these...
Persistent link: https://www.econbiz.de/10010959813
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Employment and Wage Effects of Privatization: Evidence from Hungary, Romania, Russia, and Ukraine
Brown, J. David; Earle, John S.; Telegdy, Álmos - Institute for the Study of Labor (IZA) - 2008
We use longitudinal methods and universal panel data on 30,000 initially state-owned manufacturing firms in four transition economies to estimate the impacts of privatization on employment and wages. The results in all four countries consistently reject job losses and they never imply large wage...
Persistent link: https://www.econbiz.de/10005233777
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Mergers of Equals and Unequals
Smeets, Valerie; Ierulli, Kathryn; Gibbs, Michael - Institute for the Study of Labor (IZA) - 2006
We examine the dynamics of post-merger organizational integration. Our basic question is whether there is evidence of conflict between employees from the two merging firms. Such conflict can arise for several reasons, including firm-specific human capital, corporate culture, power, or...
Persistent link: https://www.econbiz.de/10005233916
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Why Are So Few Females Promoted into CEO and Vice-President Positions? Danish Empirical Evidence 1997-2007
Smith, Nina; Smith, Valdemar; Verner, Mette - Institute for the Study of Labor (IZA) - 2011
In most OECD countries, only very few women succeed in reaching top executive positions. In this paper, the probability of promotion into VP and CEO positions is estimated based on employer-employee data on all Danish companies observed during the period 1997-2007. After controlling for a large...
Persistent link: https://www.econbiz.de/10009294842