Narrow search
Showing 1 - 10 of 208
Cover Image
State Ownership and Control in the Czech Republic
Kocenda, Evžen; Hanousek, Jan - CESifo - 2009
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade … (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate … pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its …
Persistent link: https://www.econbiz.de/10008533985
Cover Image
State Ownership and Control in the Czech Republic
Kočenda, Evžen - 2009
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade … (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate … pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its …
Persistent link: https://www.econbiz.de/10013155937
Cover Image
Stakeholder Governance, Competition and Firm Value
Allen, Franklin - 2014
In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to shareholder-oriented firms in a model of imperfect competition....
Persistent link: https://www.econbiz.de/10013057260
Cover Image
Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh - 2014
constraints faced, propensity to innovate, and R&D intensity are not uniform across firm characteristics. A new “control function …
Persistent link: https://www.econbiz.de/10013057269
Cover Image
Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh K.; Mohnen, Pierre; Palm, Franz; Loeff, … - CESifo - 2014
constraints faced, propensity to innovate, and R&D intensity are not uniform across firm characteristics. A new “control function …
Persistent link: https://www.econbiz.de/10010743448
Cover Image
Do Entrepreneurs Matter?
Becker, Sascha O. - 2013
In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...
Persistent link: https://www.econbiz.de/10013087281
Cover Image
Exit Dynamics of Start-Up Firms : Does Profit Matter?
Golombek, Rolf - 2015
We estimate by means of indirect inference a structural economic model where firms' exit and investment decisions are the solution to a discrete-continuous dynamic programming problem. In the model the exit probability depends on the current capital stock and a measure of short-run...
Persistent link: https://www.econbiz.de/10013028914
Cover Image
Heterogeneous Beliefs and the Demand for D&O Insurance by Listed Companies
Egger, Peter H. - 2014
This paper introduces a new rationale for the existence of “Directors' and Officers'” (D&O) insurance. We use a model with volatile stock markets where shareholders design compensation schemes that incentivize managers to stimulate short-term increases in stock prices that do not maximize...
Persistent link: https://www.econbiz.de/10013058491
Cover Image
Common Ownership, Competition, and Top Management Incentives
Anton, Miguel - 2020
When one firm's strategy affects other firms' value, optimal executive incentives depend on whether shareholders have interests in only one or in multiple firms. Performance-sensitive contracts induce managerial effort to reduce costs, and lower costs induce higher output. Hence, greater...
Persistent link: https://www.econbiz.de/10012854854
Cover Image
Divide and Privatize : Firm Break-Up and Performance
Kočenda, Evžen - 2011
We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...
Persistent link: https://www.econbiz.de/10013124394