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Retained State Shareholding in Chinese PLCs : Does Government Ownership Reduce Corporate Value?

Tian, Lihui; Estrin, Saul - 2005

The role of government shareholding in corporate performance is central to an understanding of China?s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

Persistent link: https://www.econbiz.de/10010262209

Foreign Investment, Corporate Ownership, and Development : Are Firms in Emerging Markets Catching Up to the World Standard?

Sabirianova, Klara Z.; Svejnar, Jan; Terrell, Katherine - 2005

privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier … find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not …

Persistent link: https://www.econbiz.de/10010271756

Ownership or Performance: What Determines Board of Directors' Turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno Maria - 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/10010276137

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 to test the effect of alternative privatization policies on firm …

Persistent link: https://www.econbiz.de/10010262532

Job Reallocation and Productivity Growth in the Ukrainian Transition

Brown, J. David; Earle, John S. - 2004

the 1980s, Ukrainian job reallocation in the 1990s was clearly productivity-enhancing, both within and across industries … to which it has contributed to aggregate productivity growth. …

Persistent link: https://www.econbiz.de/10010262088

Distance to the Efficiency Frontier and FDI Spillovers

Peter, Klara Sabirianova; Svejnar, Jan; Terrell, Katherine - 2004

We establish that domestically owned firms in two alternative models of emerging market economies, the Czech Republic and Russia, have not been converging to the technological frontier set by foreign owned firms. In both countries, the distance of domestic firms to the frontier grew (in all...

Persistent link: https://www.econbiz.de/10010262073

Ownership and Pay in Britain

Pendleton, Andrew; Bryson, Alex; Gospel, Howard - 2015

Drawing on principal-agent perspectives on corporate governance, this paper examines whether employees' hourly pay is linked to ownership dispersion. Using linked workplace-worker data from the British Workplace Employment Relations Survey (WERS) 2011, we find average hourly pay is higher in...

Persistent link: https://www.econbiz.de/10011307427

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

Kato, Takao; Long, Cheryl - 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 compensation and ownership structure, we find for...

Persistent link: https://www.econbiz.de/10010267302

CEO turnover, firm performance and enterprise reform in China: evidence from new micro data

Kato, Takao; Long, Cheryl - 2006

require a broad program that encompasses not only privatization but also laws and their effective implementation to provide …

Persistent link: https://www.econbiz.de/10010274393

CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data

Kato, Takao; Long, Cheryl - Institute for the Study of Labor (IZA) - 2006

require a broad program that encompasses not only privatization but also laws and their effective implementation to provide …

Persistent link: https://www.econbiz.de/10005566546

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