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Do Public Firms Respond to Industry Opportunities More than Private Firms? The Impact of Initial Firm Quality
Maksimovic, Vojislav - 2019
We track firms at birth and compare the growth pattern of IPO firms and their birth-matched counterparts. Firms that are larger at birth with faster initial growth are more likely to attain a larger size later in life and go public. Firms in the top percentile of predicted propensity to go...
Persistent link: https://www.econbiz.de/10012890903
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Can a Tiger Change its Stripes? Reform of Chinese State-Owned Enterprises in the Penumbra of the State
Harrison, Ann E. - 2019
there are clear improvements in performance post-privatization. The tiger can change its stripes; however, the government …
Persistent link: https://www.econbiz.de/10012894408
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Profiting from Government Stakes in a Command Economy : Evidence from Chinese Asset Sales
Calomiris, Charles W. - 2010
contrast to the quot;privatization premiumquot; found in earlier work, we find a negative effect of government ownership on …, suggesting that personal ties can substitute for the benefits of government ownership. The quot;privatization discountquot; is … with relatively high welfare payments to employees, which presumably would fall with privatization, benefit …
Persistent link: https://www.econbiz.de/10012759554
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Grasp the Large, Let Go of the Small : The Transformation of the State Sector in China
Hsieh, Chang-Tai - 2015
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10013026794
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Intellectual Property Rights Protection, Ownership, and Innovation : Evidence from China
Fang, Lily H. - 2016
Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase is larger in cities with...
Persistent link: https://www.econbiz.de/10012982038
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Matching in Cities
Dauth, Wolfgang - 2018
In most countries, average wages tend to be higher in larger cities. In this paper, we focus on the role played by the matching of workers to firms in explaining geographical wage differences. Using rich administrative German data for 1985-2014, we show that wages in large cities are higher not...
Persistent link: https://www.econbiz.de/10012908467
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The Importance of Local Fiscal Conditions in Analyzing Local Labor Markets
Gyourko, Joseph - 2012
A new test of the compensating wage differential model is proposed. The logic behind Roback's model showing how differences in nonproduced amenities may be reflected in intercity wage differentials is extended to the case of differences in local fiscal conditions, represented by tax rates and...
Persistent link: https://www.econbiz.de/10012755404
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Human Capital Externalities in Cities
Moretti, Enrico - 2021
capital spillovers can in theory increase aggregate productivity over and above the direct effect of human capital on …
Persistent link: https://www.econbiz.de/10013229332
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The Ramsey Problem for Congestible Facilities
Arnott, Richard J. - 2010
In recent years, a new set of models drawing on Vickrey [1969] has been developed to analyze the economics of congestible facilities. These models are structural in that they derive the cost function from consumers' time-of-use decisions and the congestion technology. Standard models, in...
Persistent link: https://www.econbiz.de/10012760029
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Quality of Public Governance and the Capital Structure of Nations and Firms
Wei, Shang-Jin - 2018
liabilities and the capital structure of firms. In our theory, better institutional quality tends to promote a higher share of …
Persistent link: https://www.econbiz.de/10012930847