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While it is by now well known that the privatization of township- and village-run enterprises (TVREs) has been rapidly … and widely taking place in China, it is much less known whether and to what extent privatization has improved resource … allocation and productivity. As a first step toward the fuller understanding of the effect of privatization, this study …
Persistent link: https://www.econbiz.de/10013233007
among top 20 largest cities by population. We estimate the cost savings from privatization and explore the political economy … of why privatization rates are lower in high cost unionized areas. Our analysis finds that the full privatizaton could …
Persistent link: https://www.econbiz.de/10012996392
Efforts to raise the productivity of the U.S. health care system have proceeded slowly. One potential explanation is the fragmentation of payment across insurers. Each insurer's efforts to improve care could influence how doctors practice medicine for other insurers, leading to unvalued...
Persistent link: https://www.econbiz.de/10012832460
We use administrative registration records with information on the owners of all Chinese firms to document their connections through equity investments. We show that the largest private owners have direct equity ties with state owners, the next largest private owners have equity ties with...
Persistent link: https://www.econbiz.de/10014090294
We study the leverage of U.S. firms over their life-cycles, and the connection between firm leverage, firm growth, and aggregate shocks. We construct a new dataset that combines private and public firms' balance sheets with firm-level data from U.S. Census Bureau's Longitudinal Business Database...
Persistent link: https://www.econbiz.de/10012908468
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
Economic impacts of unionization on employers are difficult to estimate in the absence of large, representative data on establishments with union status information. Estimates are also confounded by selection bias, because unions could organize at highly profitable enterprises that are more...
Persistent link: https://www.econbiz.de/10013223179
We analyze the differences between companies owned by private equity (PE) investors and similar public companies. We document that PE-owned companies use much stronger incentives for their top executives and have substantially higher debt levels. However, we find little evidence that PE-owned...
Persistent link: https://www.econbiz.de/10012751310
We study the variability of business growth rates in the U.S. private sector from 1976 onwards. To carry out our study, we exploit the recently developed Longitudinal Business Database (LBD), which contains annual observations on employment and payroll for all U.S. businesses. Our central...
Persistent link: https://www.econbiz.de/10012752211
Using U.S. Census data, we track firms at birth and compare the growth pattern of IPO firms and their matched always-private counterparts over their life cycle. Firms that are larger at birth with faster initial growth are more likely to attain a larger size and to subsequently go public. We...
Persistent link: https://www.econbiz.de/10012941601