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Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatisation

Kocenda, Evzen - C.E.P.R. Discussion Papers - 2002

This Paper works with a broad data sample of Czech voucher-privatized firms during 1996-99. It analyses the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest owner...

Persistent link: https://www.econbiz.de/10005788907

Fire the Manager to Improve Performance? Managerial Turnover and Incentives After Privatization in the Czech Republic

Fidrmuc, Jan; Fidrmuc, Jana - C.E.P.R. Discussion Papers - 2004

performance after privatization in the Czech Republic. We find weak evidence for the presence of managerial incentives: only in … 1997, three to four years after privatization, does poor performance significantly increase the probability of managerial …

Persistent link: https://www.econbiz.de/10005792419

Voucher Privatization, Corporate Control and the Cost of Capital: An Analysis of the Czech Privatization Programme

Marcincin, Anton; van Wijnbergen, Sweder - C.E.P.R. Discussion Papers - 1995

Voucher privatization programmes have been criticized for leading to excessively dispersed ownership and hence failure … privatization programme and subsequent stock market developments. Contrary to prior fears, dominant investors did emerge in most …

Persistent link: https://www.econbiz.de/10005123768

INSTITUTIONS AND ENTRY: A CROSS-REGIONAL ANALYSIS IN RUSSIA

Bruno, Randolph; Bytchkova, Maria; Estrin, Saul - C.E.P.R. Discussion Papers - 2011

We analyse a micro-panel data set to investigate the effect of regional institutional environment and economic factors on Russian new firm entry rates across time, industries and regions. The paper builds on novel databases and exploits inter-regional variation in a large number of institutional...

Persistent link: https://www.econbiz.de/10008865970

China’s Decentralized Privatization and Change of Control Rights

Gan, Jie; Guo, Yan; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2015

A distinct feature of China’s privatization is that both its design and its implementation are highly decentralized and … how city governments choose among various privatization methods, how these different methods transfer control rights from … the government to private owners, and how various privatization methods lead to different restructuring and performance …

Persistent link: https://www.econbiz.de/10011145391

Technology Transfer and Spillovers in International Joint Ventures

Müller, Thomas; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2003

This paper analyzes the effects of a potential spillover on technology transfer of a multinational enterprise and on the host country policy. In particular, we examine how both parties’ incentives can be controlled through the ownership structure in an international joint venture. In contrast...

Persistent link: https://www.econbiz.de/10005504408

Growing like China

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009

This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

Persistent link: https://www.econbiz.de/10005123794

Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock

Karlan, Dean S.; Osman, Adam; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2013

Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and...

Persistent link: https://www.econbiz.de/10011083720

Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt

McKenzie, David - C.E.P.R. Discussion Papers - 2014

Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. We conduct a randomized experiment in post-revolution Egypt...

Persistent link: https://www.econbiz.de/10011084029

Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies

Abel, István; Siklos, Pierre L - C.E.P.R. Discussion Papers - 1993

This paper demonstrates that the monetary policy of the National Bank of Hungary is restrictive and has ignored the liquidity problems raised by the overhang of inter-enterprise liquidity. The implication is that the success of the transition to market is thereby jeopardized.

Persistent link: https://www.econbiz.de/10005661882

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