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State ownership and control in the Czech Republic
Kočenda, Evžen; Hanousek, Jan - 2009
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade … bureaucracy are the most likely reasons behind our findings. -- state ownership ; control ; corporate performance ; privatization … (1995-2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate …
Persistent link: https://www.econbiz.de/10003887481
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Divide and privatize : firm break-up and performance
Kočenda, Evžen; Hanousek, Jan - 2011
changes ; privatization ; emerging markets ; endogeneity ; propensity score matching procedure …
Persistent link: https://www.econbiz.de/10009130271
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Political connections, state ownership and productivity in China
Harris, Richard I. D.; Hashimzade, Nigar; Ding, Sai - 2016
Subordination of business to political influence has remains pervasive in China. We construct a Schumpeterian-type model of growth with managerial time allocation between productive activities and building up political connections. The model predicts the impact of different patterns of state...
Persistent link: https://www.econbiz.de/10011571621
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Stakeholder governance, competition and firm value
Allen, Franklin; Carletti, Elena; Marquez, Robert - 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/10010249637
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Persistence in the private debt-to-GDP ratio : evidence from 43 OECD countries
Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2021
This paper investigates the degree of persistence of the private debt-to-GDP ratio in 43 OECE countries by estimating the fractional integration parameter of each series. Almost all of them are found to be highly persistent, with orders of integration around or above 1. The only exception is...
Persistent link: https://www.econbiz.de/10012433001
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Microeconometric evidence of financing frictions and innovative activity
Tiwari, Amaresh K.; Mohnen, Pierre A.; Palm, Franz C.; … - 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/10010249680
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Do entrepreneurs matter?
Becker, Sascha O.; Hvide, Hans K. - 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/10009691623
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Credit supply shocks and firm dynamics : evidence from Brazil
Bazzi, Samuel; Muendler, Marc-Andreas; Oliveira, Raquel F. - 2023
We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014391287
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CEO compensation
Frydman, Carola; Jenter, Dirk - 2010
This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...
Persistent link: https://www.econbiz.de/10008797772
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Heterogeneous beliefs and the demand for D&O insurance by listed companies
Egger, Peter; Radulescu, Doina; Rees, Ray - 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 long...
Persistent link: https://www.econbiz.de/10010237759