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WHY ARE OPTIMISTIC ENTREPRENEURS SUCCESSFUL? AN APPLICATION OF THE REGULATORY FOCUS THEORY
AIDIS, RUTA; TOMASZ MICKIEWICZ*; SAUKA, ARNIS - William Davidson Institute, University of Michigan - 2008
Does entrepreneurial optimism affect business performance? Using a unique data set based on repeated survey design, we investigate this relationship empirically. Our measures of ‘optimism’ and ‘realism’ are derived from comparing the turnover growth expectations of 133 owners-managers...
Persistent link: https://www.econbiz.de/10005784754
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Will Restructuring Hungarian Companies Innovate? An Investigation Based on Joseph Berliners's Soviet Industry
Bonin, John P.; Abel, Istvan - William Davidson Institute, University of Michigan - 1998
privatization process is likely to impede innovation and stall company restructuring. …
Persistent link: https://www.econbiz.de/10005651490
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Corporate goodness and shareholder wealth
Krüger, Philipp - In: Journal of Financial Economics 115 (2015) 2, pp. 304-329
Using a unique data set, I study how stock markets react to positive and negative events concerned with a firm׳s corporate social responsibility (CSR). I show that investors respond strongly negatively to negative events and weakly negatively to positive events. I then show that investors do...
Persistent link: https://www.econbiz.de/10011189254
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China׳s secondary privatization: Perspectives from the Split-Share Structure Reform
Liao, Li; Liu, Bibo; Wang, Hao - In: Journal of Financial Economics 113 (2014) 3, pp. 500-518
-owned enterprises (SOEs), opening up the gate to China׳s secondary privatization. The expectation of privatization quickly boosted SOE … SOE performance are positively correlated to government agents’ privatization-led incentive of increasing state …-owned share value. In terms of privatization methodology, the reform adopted a market mechanism that played an effective …
Persistent link: https://www.econbiz.de/10011039280
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Risk tolerance and entrepreneurship
Hvide, Hans K.; Panos, Georgios A. - In: Journal of Financial Economics 111 (2014) 1, pp. 200-223
A theoretical tradition argues that more risk tolerant individuals are more likely to become entrepreneurs but perform worse. We test and confirm these predictions with several risk tolerance proxies. Using investment data for 400,000 individuals, we find that common stock investors are around...
Persistent link: https://www.econbiz.de/10010718731
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Do business groups help or hinder technological progress in emerging markets? Evidence from India
Bhaumik, Sumon K.; Zhou, Ying - William Davidson Institute, University of Michigan - 2014
Business groups, which are ubiquitous in emerging market economies, balance the advantages of characteristics such as internal capital markets with the disadvantages such as inefficient internal distribution of resources and suppression of technological and other forms of innovativeness. In this...
Persistent link: https://www.econbiz.de/10010859437
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The Czech Republic's Commercial Bank: Komercni Banka
Snyder, Edward A.; Kormendi, Roger C. - William Davidson Institute, University of Michigan - 1996
voucher privatization, and limited post-privatization financial support. The main feature, however, is the government …'s decision to retain control and majority ownership of Komer6nf. Our analysis of the bank's subsequent credit allocations yields …
Persistent link: https://www.econbiz.de/10005677491
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The Impact on Structural Reforms on Employment Growth and Labour Productivity: Evidence from Bulgaria and Romania
Dimova, Ralitza - William Davidson Institute, University of Michigan - 2003
net job creation at the firm level was affected by privatization in Bulgaria, privatization in Romania did not have any …
Persistent link: https://www.econbiz.de/10005677589
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Bank Privatization in Poland: The Case of Bank Slaki
Aberbanellv, Jeffert; Bonin, John - William Davidson Institute, University of Michigan - 1997
The privatization of Bank Slaski, one of nine regional commercial banks in Poland, illustrates the benefits of … performance and created complications for governance. Furthermore, the Polish government's reaction to this privatization and its …
Persistent link: https://www.econbiz.de/10005677608
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Transactional Structures of Bank Privatization in Central Europe and Russia
Meyendorff, Anna; Snyder, Edward A. - William Davidson Institute, University of Michigan - 1997
In pursuing bank privatization, governments in Central Europe and Russia faced a common set of policy issues including … to the banks. For each bank undergoing privatization, the government's approach to such issues determines its … undergoing privatization. The varied transactional structures used in these privatizations appear to have had significant effects …
Persistent link: https://www.econbiz.de/10005677646