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there are clear improvements in performance post-privatization. The tiger can change its stripes; however, the government …
Persistent link: https://www.econbiz.de/10012479431
We track firms at birth and compare the growth pattern of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to attain a larger size later in life and go public. Firms in the top percentile of predicted propensity to go...
Persistent link: https://www.econbiz.de/10012479586
contrast to the "privatization premium" found in earlier work, we find a negative effect of government ownership on returns at … that personal ties can substitute for the benefits of government ownership. The "privatization discount" is higher for … relatively high welfare payments to employees, which presumably would fall with privatization, benefit disproportionately from …
Persistent link: https://www.econbiz.de/10012464873
Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase is larger in cities with...
Persistent link: https://www.econbiz.de/10012455995
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10012457662
We study the impact of state-owned enterprises (SOEs) on the quality of entrepreneurship in China. Using long series of firm registration and performance data, we document that the massive SOE downsizing in the late 1990s significantly improved the quality of entrepreneur- ship. Compared with...
Persistent link: https://www.econbiz.de/10014372457
We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending … privatization of underperforming, zombie-like entities can lead to substantial economic improvements and greater efficiency …
Persistent link: https://www.econbiz.de/10015056119
Persistent link: https://www.econbiz.de/10001791048
A new test of the compensating wage differential model is proposed. The logic behind Roback's model showing how differences in nonproduced amenities may be reflected in intercity wage differentials is extended to the case of differences in local fiscal conditions, represented by tax rates and...
Persistent link: https://www.econbiz.de/10012477029
In most countries, average wages tend to be higher in larger cities. In this paper, we focus on the role played by the matching of workers to firms in explaining geographical wage differences. Using rich administrative German data for 1985-2014, we show that wages in large cities are higher not...
Persistent link: https://www.econbiz.de/10012480878