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Asset stripping, rule of law and firm survival : the Hoff-Stiglitz model and mass privatization in Montenegro

Koman, Matjaž; Lakičević, Milan; Prašnikar, Janez; … - 2013

We provide the first test of the Hoff and Stiglitz (2004) model predicting whether and under what conditions mass privatizations are accompanied by asset stripping. In addition to directly testing the theory, we also tackle an important policy-oriented issue of why a large number of efficient...

Persistent link: https://www.econbiz.de/10010226663

How transition paths differ : enterprise performance in Russia and China

Bhaumik, Sumon Kumar (contributor); Estrin, Saul (contributor) - 2005

We use enterprise data to analyse and contrast the determinants of enterprise performance in China and Russia. We find … that in China, enterprise growth and efficiency is associated with rapid increases in factor inputs, but not correlated …

Persistent link: https://www.econbiz.de/10002603928

Privatization and productivity in Romanian industry : evidence from a comprehensive enterprise panel

Earle, John S.; Telegdy, Álmos - 2001

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor productivity for the entire surviving population of initially state-owned industrial corporations in Romania. The data permit us to describe the post-privatization ownership structure and...

Persistent link: https://www.econbiz.de/10011402871

Corruption as a barrier to entry : theory and evidence

Campos, Nauro; Estrin, Saul; Proto, Eugenio - 2010

Conventional wisdom depicts corruption as a tax on incumbent firms. This paper challenges this view in two ways. First, by arguing that corruption matters not so much because of the value of the bribe ("tax"), but because of another less studied feature of corruption, namely bribe...

Persistent link: https://www.econbiz.de/10009153607

Expanding export variety : the role of institutional reforms in developing countries

Sheng, Liugang; Yang, Dennis Tao - 2013

raising the extensive margin of processing exports in China for the period of 1997-2007. …

Persistent link: https://www.econbiz.de/10010128870

The determinants of asset stripping : theory and evidence from the transition economies

Campos, Nauro (contributor); … - 2005

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...

Persistent link: https://www.econbiz.de/10003299971

Enterprise restructuring in Belarus

Bakanova, Marina; Estrin, Saul; Pelipasʹ, Igorʹ V.; … - 2006

We explore the impact of privatization and the entry of new firms on enterprise performance in Belarus, a transition economy in which reform and market-orientated institutional development has been limited. We hypothesize that private ownership will enhance company performance, measured in a...

Persistent link: https://www.econbiz.de/10003328064

Equilibrium wage arrears : a theoretical and empirical analysis of institutional lock-in

Earle, John S.; Sabirianova Peter, Klara - 2000

We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

Persistent link: https://www.econbiz.de/10011339102

The reallocation of workers and jobs in Russian industry : new evidence on measures and determinants

Brown, J. David; Earle, John S. - 2002

Gross job and worker flows in Russian industry are studied using panel data from a recent survey of 530 firms selected through national probability sampling. The data permit an examination of several important measurement issues - including the timing and definition of employment, the roles of...

Persistent link: https://www.econbiz.de/10011412846

Executive compensation, firm performance, and corporate governance in China : evidence from firms listed in the Shanghai and Shenzhen stock exchanges

Kato, Takao (contributor); Long, Cheryl (contributor) - 2005

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using … comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive … cash compensation (salary and bonus) for top executives with respect to shareholder value in China. In addition, sales …

Persistent link: https://www.econbiz.de/10003225948

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