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Belloc, Marianna; Pagano, Ugo - 2009

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Persistent link: https://www.econbiz.de/10003923223

All in the family or public? : law and appropriative costs as determinants of ownership structure

Castillo C., Ramón; Skaperdas, Stergios - 2003

We examine how the legal protection of outside shareholders and the appropriative costs that they induce influence the incentives for private firms to go public. A higher degree of protection of shareholders can increase the appropriative costs associated with the conflict between managers and...

Persistent link: https://www.econbiz.de/10011507775

Stock market returns, corporate governance and capital market equilibrium

Parigi, Bruno; Pelizzon, Loriana; Thadden, Ernst-Ludwig von - 2013

This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...

Persistent link: https://www.econbiz.de/10010212666

Privatisation around the world : new evidence from panel data

Bortolotti, Bernardo; Fantini, Marcella; Siniscalco, … - 2001

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and...

Persistent link: https://www.econbiz.de/10011400889

Ownership concentration and share valuation : evidence from Germany

Edwards, Jeremy S. S.; Weichenrieder, Alfons J. - 1999

Concentrated ownership of large listed companies is widespread throughout the world, and Germany is typical in this respect. This paper proposes a method of distinguishing empirically between the beneficial and harmful effects of ownership concentration, and applies it to German data. The...

Persistent link: https://www.econbiz.de/10009781688

Privatization in Italy 1993-2002 : goals, institutions, outcomes, and outstanding issues

Goldstein, Andrea - 2003

This paper describes the privatization program in Italy during the 1990s and puts that policy in the context of … attempts at privatization of the 1980s, delaying until 1992 the start of largescale privatizations. These were imposed on … analysis of the consequences of privatization on corporate governance show that, notwithstanding considerable changes in the …

Persistent link: https://www.econbiz.de/10011507688

Voter support for privatizing education : evidence on self-interest and ideology

Merzyn, Wolfram; Ursprung, Heinrich W. - 2003

Economic theory advances various arguments in favor of and against privatizing education. In this paper we investigate the extent to which these arguments influence voters opinions. We analyze two popular referenda in which some 400,000 voters in two Swiss cantons expressed their opinions on the...

Persistent link: https://www.econbiz.de/10011508114

External constraints matter for privatizations

Petrarca, Ilaria; Ricciuti, Roberto - 2014

We present an analysis of the share of public ownership in the product market in the OECD countries from 1974 to 2007. Despite much has been said on the broad topic of reforms and regulation, a sector-specific insight is missing. We replicate the analysis of Galasso (2014) by sector of activity...

Persistent link: https://www.econbiz.de/10010426052

Privatising network industries

Newbery, David M. G. - 2004

Persistent link: https://www.econbiz.de/10011402670

Privatization in Austria : some theoretical reasons and first results about the privatization proceeds

Belke, Ansgar; Schneider, Friedrich - 2004

Persistent link: https://www.econbiz.de/10011402696

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