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Durnev, Art; Kim, E. Han - William Davidson Institute, University of Michigan - 2003

three relevant firm attributes: investment opportunities, external financing, and ownership structure. Using firm …

Persistent link: https://www.econbiz.de/10005784593

The Unanticipated Effects of Insider Trading Regulation

Durnev, Art A.; Nain, Amrita S. - William Davidson Institute, University of Michigan - 2004

Using a sample of 2,827 firms from 21 countries we examine whether insider trading laws achieve the primary objective for which they are introduced – protecting uninformed investors from private information-based trading. We find that when control is concentrated in the hands of a large...

Persistent link: https://www.econbiz.de/10005784671

The Effects of Ownership Forms and Concentration on Firm Performance after Large-Scale Privatization

Svejnar, Jan; Kocenda, Evzen - William Davidson Institute, University of Michigan - 2002

We analyze the effect of ownership on post-privatization performance in a virtually complete population of medium and … or foreign private ownership, in either moderate or high ownership concentrations, leads to increased sales. However … relative to state-owned firms. Firms with dispersed ownership register higher positive effect on profit than firms with more …

Persistent link: https://www.econbiz.de/10005784695

Job Creation, Job Destruction and Growth of Newly Established, Privatized and State-Owned Enterprises in Transition Economies: Survey Evidence from Bulgaria, Hungary and Romania

Bilsen, Valentijn; Konings, Jozef - William Davidson Institute, University of Michigan - 1997

This paper reports new and unique firm level survey evidence to investigate the micro economic nature of the growth process and structural change in three transition countries, Romania, Bulgaria and Hungary. In particular we investigate gross job creation and destruction in newly established...

Persistent link: https://www.econbiz.de/10005784730

Effects of Ownership and Financial Status on Corporate Environmental Performance

Lízal, Lubomír; Earnhart, Dietrich - William Davidson Institute, University of Michigan - 2002

This paper analyzes the effects of ownership structure on corporate environmental performance and examines the link … from financial performance to environmental performance in a transition economy. In particular, it analyzes these ownership … ownership and various types of private ownership, while contrasting concentrated and diffuse forms of private ownership …

Persistent link: https://www.econbiz.de/10005489933

Investment, Efficiency, and Credit Rationing: Evidence from Hungarian Panel Data

Maurel, Mathilde - William Davidson Institute, University of Michigan - 2001

Relying upon a rich and unique panel of Hungarian firms over 7 years, from 1992 up to 1998, this paper estimates simultaneously TFP, Total Factor Productivity, identified as efficiency, and the parameters of a model where investment depends upon internal funds, wages, and sales, as in Prasnikar...

Persistent link: https://www.econbiz.de/10005651491

Ownership, Control and Corporate Performance After Large-Scale Privatization

Hanousek, Jan; Evžen Ko?enda; Svejnar, Jan - William Davidson Institute, University of Michigan - 2004

We analyze the effects of ownership type and concentration on performance of a population of firms in a model large … that few types of private ownership improve dynamic post-privatization performance. Concentrated foreign (but not domestic …) ownership improves some measures of performance relative to state ownership. Foreign investors engage in strategic restructuring …

Persistent link: https://www.econbiz.de/10005652527

Ownership and Employment in Russian Industry: 1992-1995

Linz, Susan - William Davidson Institute, University of Michigan - 1998

ownership structure. The first section summarizes what we know about output and employment patterns in Russian industry between … Russia experienced an unsustainably low elasticity of labor in the first stage of the transition process. However, ownership …

Persistent link: https://www.econbiz.de/10005652629

Ownership and Firm Performance after Large-Scale Privatization

Svejnar, Jan; Kocenda, Evzen - William Davidson Institute, University of Michigan - 2003

We analyze the effect of ownership on post-privatization performance in a virtually complete population of medium and … ownership improves economic performance, but domestic private ownership does not, relative to state ownership. Foreign firms … increasing profit. Ownership concentration is associated with superior performance, thus providing support to the agency theory …

Persistent link: https://www.econbiz.de/10005652658

Financial Conditions and Investment during the Transition: Evidence from Czech Firms

Lízal, Lubomír; Svejnar, Jan - William Davidson Institute, University of Michigan - 2001

models of investment and test if investment behavior varies across categories of ownership and with the legal status of firms … ownership-legal form categories of firms. Retained profit is found to be the major determinant of new investment and the … owned-limited liability companies and foreign owned and mixed ownership firms. These results are consistent with the …

Persistent link: https://www.econbiz.de/10005652659