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Regulation and firm value : curious case of transparency and disclosure laws in Russia

Banerjee, Suman; Masulis, Ronald W.; Pal, Sarmistha - 2016

We provide novel evidence on the effectiveness of mandated changes in Russian transparency and disclosure (henceforth T&D) rules in boosting shareholder welfare. We focus on the staggered implementation of these T&D reforms initiated in 2002 and implemented during 2003-07. Using difference in...

Persistent link: https://www.econbiz.de/10011457931

Boards of directors in Russian publicly traded companies in 1998-2014 : structure, dynamics and performance effects

Muravyev, Alexander - 2016

This paper provides new evidence on the structure, dynamics and performance effects of corporate boards in publicly traded companies in Russia. It takes advantage of a new and unique longitudinal dataset of virtually all Russian companies whose shares were traded in the RTS/MICEX/MOEX over...

Persistent link: https://www.econbiz.de/10011595577

Retained state shareholding in Chinese PLCs : does government ownership reduce corporate value?

Tian, Lihui (contributor); Estrin, Saul (contributor) - 2005

The role of government shareholding in corporate performance is central to an understanding of China's newly privatized …

Persistent link: https://www.econbiz.de/10002603937

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

Tournaments and managerial incentives in China's listed firms : new evidence

Kato, Takao (contributor); Long, Cheryl (contributor) - 2008

an optimal response of the winner's prize to the size of the contestant pool is more evident for China's listed firms … to decide on the tournament winner). Using comprehensive financial and accounting data on China's listed firms from 1998 … effort and hence improved firm performance, and that the performance effect of the winner's prize is greater for China …

Persistent link: https://www.econbiz.de/10003759900

Legal corruption, politically connected corporate governance and firm performance

Domadenik, Polona; Prašnikar, Janez; Švejnar, Jan - 2014

In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...

Persistent link: https://www.econbiz.de/10010381906

Ownership or performance : what determines board of directors' turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno - 2000

This paper studies the turnover of board of directors members in a sample of 72 companies listed on the Milan Stock Exchange during the period 1988-1996. We investigate whether board members change more frequently when company performance is poor, as the literature suggests, and whether and how...

Persistent link: https://www.econbiz.de/10011318600

Evaluating the effect of ownership status on hospital quality : the key role of innovative procedures

Gobillon, Laurent; Milcent, Carine - 2012

Mortality differences between university, non-teaching public and for-profit hospitals are investigated using a French exhaustive administrative dataset on patients admitted for heart attack. Our results show that innovative procedures play a key role in explaining the effect of ownership status...

Persistent link: https://www.econbiz.de/10009680311

The births of new private-owned enterprises in an environment of state-owned enterprises

Zhao, Zhong; Liang, Zheng - 2023

China is a central concern for the government and society. In this paper, we apply agglomeration theories to distinguish the … linkages between SOEs and POEs. Using China's 2008 economic census, the 2007 Input-Output Table, and the 2005 population mini …

Persistent link: https://www.econbiz.de/10014310232

Bringing connections onboard: the value of political influence

Green, Colin; Homroy, Swarnodeep - 2020

In 2002, an amendment to UK parliamentary regulations removed restrictions on the participation of members of parliament (MPs) in parliamentary proceedings related to their corporate interests. Using this amendment as a quasi-natural experiment, we demonstrate gains in firm value and...

Persistent link: https://www.econbiz.de/10012239525

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