Showing 1 - 10 of 71
Government-linked companies (GLCs) have a significant presence in Singapore''s corporate sector. Unlike parastatals in many other countries, these companies are run on a competitive, commercial basis, ostensibly without government privileges. Based on data from publicly listed GLCs and non-GLCs,...
Persistent link: https://www.econbiz.de/10014401351
Persistent link: https://www.econbiz.de/10011281609
Widespread implicit guarantees and interest ceilings were major distortions in China's financial system, contributing to a misallocation of resources. We analyze the impact of removing such frictions in a general equilibrium setting. The results show that comprehensive reforms generate better...
Persistent link: https://www.econbiz.de/10011445597
Using a newly-compiled dataset of state-owned enterprises in Sub-Saharan Africa, we present aggregate information about profitability, liquidity and leverage. We find that 40 percent of the close to 300 surveyed SOEs are unprofitable, while larger firms also tend to be illiquid and...
Persistent link: https://www.econbiz.de/10013169959
Strong governance frameworks for public enterprises have long been an anchor of stability and efficiency underpinning their financial operations and performance. Cross-country experiences with the adoption of robust legal, regulatory and institutional arrangements-in line with international best...
Persistent link: https://www.econbiz.de/10013170011
We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than publicly listed firms in which the state has no ownership stake. In particular, Chinese listed SOEs are more capital intensive and have a lower average product of capital than...
Persistent link: https://www.econbiz.de/10012518918
Ensuring that state-owned enterprises (SOEs) are efficient and managed prudently is important for economic and social reasons. It is also crucial to contain fiscal risks and reduce the burden on taxpayers from recurrent and large bailouts. Governments need to develop stronger capacity to monitor...
Persistent link: https://www.econbiz.de/10012392051
This paper examines whether the rapid growing firm patenting activity in China is associated with real economic outcome by building a unique dataset uniting detailed firm balance sheet information with firm patent data for the period of 1998-2007. We find strong evidence that within-firm...
Persistent link: https://www.econbiz.de/10011716316
The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in Vietnam. This paper presents a theoretical and empirical analysis of the issue. An empirical...
Persistent link: https://www.econbiz.de/10012103676
Based on a new database of State-Owned Enterprise (SOE) financial statements, we find that SOEs in Bosnia and Herzegovina are mostly in poor financial shape. We estimate the overall size and composition of the SOE sector, and identify individual companies that affect fiscal and macroeconomic...
Persistent link: https://www.econbiz.de/10012103740