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ownership structure of 826 listed corporations and find that government shareholding is surprisingly large. Its effect on … shareholding stakes increase, but beyond this corporate value begins to increase. We interpret this in terms of ownership …
Persistent link: https://www.econbiz.de/10005822452
describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … significant effect of private ownership share on the level and growth of labor productivity, the estimates ranging from 13 to 32 …
Persistent link: https://www.econbiz.de/10005566810
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
ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …
Persistent link: https://www.econbiz.de/10005103255
poor, as the literature suggests, and whether and how the ownership structure of Italian companies affects these … and that this relationship depends on the ownership structure of firms. Turnover is lower in family controlled firms and … relationship with performance. Board turnover instead is unrelated to performance but is related to the firm's ownership structure …
Persistent link: https://www.econbiz.de/10005566811
. Second, it examines which individuals from which firms remain with the newly created entity after the takeover. Using a … unique employer-employee linked data set for France, we find that very few observable workforce or compensation … active in the post-takeover period, with employees of the acquired firm being less likely to remain with the new entity in …
Persistent link: https://www.econbiz.de/10005761983
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/10005703404
on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find …
Persistent link: https://www.econbiz.de/10005566546
compensation and ownership structure, we find for the first time statistically significant sensitivities and elasticities of annual … positive. Perhaps more importantly, we find that ownership structure of China’s listed firms has important effects on pay …-performance link in these firms. Specifically state ownership of China’s listed firms is weakening pay-performance link for top …
Persistent link: https://www.econbiz.de/10005566733