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Do Entrepreneurs Want Control? And Should They Get What They Want? A Historical and Theoretical Exploration
Lamoreaux, Naomi R.; Rosenthal, Jean-Laurent - National Bureau of Economic Research - 2023
From Elihu Thomson and Herbert Dow in the late nineteenth century to Steve Jobs a hundred years later, many entrepreneurs have been stymied by their investors. In this paper, we use a simple model to explore how outcomes might have been different if entrepreneurs, instead of the investors, had...
Persistent link: https://www.econbiz.de/10014250124
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Investing with the Government : A Field Experiment in China
Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022
We study the demand for government participation in China's venture capital and private equity market. We conduct a …
Persistent link: https://www.econbiz.de/10013334380
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Risk Perceptions, Board Networks, and Directors' Monitoring
Ding, Wenzhi; Chen, Lin; Schmid, Thomas; Weisbach, … - National Bureau of Economic Research - 2021
What makes independent directors perform their monitoring duty? One possible reason is that they are worried about being sanctioned by regulators if they do not monitor sufficiently well. Using unique features of the Chinese financial market, we estimate the extent to which independent...
Persistent link: https://www.econbiz.de/10012585458
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The Global History of Corporate Governance : An Introduction
Morck, Randall K. - 2005
This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France …
Persistent link: https://www.econbiz.de/10012467625
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Ownership and Control in Outsourcing to China : Estimating the Property-Rights Theory of the Firm
Feenstra, Robert C. - 2004
In this paper, we develop a simple model of international outsourcing and apply it to processing trade in China. We … observe China's processing exports broken down by who owns the plant and by who controls the inputs the plant processes …. Multinational firms engaged in export processing in China tend to split factory ownership and input control with managers in China …
Persistent link: https://www.econbiz.de/10012468496
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Initial Public Offering and Corporate Governance in China's Transitional Economy
Hsun, Chen-Chien - 2003
that the only industries in which listed companies in China display strong performance are public utilities, transportation …
Persistent link: https://www.econbiz.de/10012469125
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Chinese Capital Market : An Empirical Overview
Hu, Grace Xing - 2018
and is now the second largest in the world. Due to China's tight capital controls, the development of its capital market … bound to change substantially as China becomes more integrated into the global financial system. In this paper, we provide …
Persistent link: https://www.econbiz.de/10012453368
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In Search of New Foundations
Zingales, Luigi - 2000
In this paper I argue that corporate finance theory, empirical research, practical applications, and policy recommendations are deeply rooted in an underlying theory of the firm. I also argue that while the existing theories have delivered very important and useful insights, they seem to be...
Persistent link: https://www.econbiz.de/10012471055
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Contractibility and Asset Ownership : On-Board Computers and Governance in U.S. Trucking
Baker, George P. - 2000
We investigate how the contractibility of actions affecting the value of an asset affects asset ownership. We examine this by testing how on-board computer (OBC) adoption affects truck ownership. We develop and test the proposition that adoption should lead to less ownership by drivers,...
Persistent link: https://www.econbiz.de/10012471133
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Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance
Himmelberg, Charles P. - 2000
Both managerial ownership and performance are endogenously determined by exogenous (and only partly observed) changes in the firm's contracting environment. We extend the cross-sectional results of Demsetz and Lehn (1985) and use panel data to show that managerial ownership is explained by key...
Persistent link: https://www.econbiz.de/10012471259