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We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...
Persistent link: https://www.econbiz.de/10011591071
Persistent link: https://www.econbiz.de/10000983122
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...
Persistent link: https://www.econbiz.de/10013184745
Mass privatization offers a particularly suitable framework to study the change in ownership concentration as the … extent of change is unusual for a stable market economy. Focusing on two different mass privatization schemes in two …
Persistent link: https://www.econbiz.de/10011606874
through 2000. We find that governments do not relinquish control after privatization. We show that the market-to-book ratios …
Persistent link: https://www.econbiz.de/10011606983
Critics of privatization argue that poor labor force restructuring is a key concern and that governments should … owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments … before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impacton net …
Persistent link: https://www.econbiz.de/10011598290
The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) was the largest experiment in public divestitures among capitalist economies. It had a deep impact on economic policy-making world wide, and was vastly...
Persistent link: https://www.econbiz.de/10011606658
Persistent link: https://www.econbiz.de/10012813813
We use China's growth experience as a laboratory to study how reductions in entry barrier contribute to economic growth by inducing a more competitive market structure. The removal of entry restrictions on private firms in the late 1990s and early 2000s made the Chinese economy more competitive...
Persistent link: https://www.econbiz.de/10014314301
This working paper examines the conditions under which the European Union (EU) engages externally in competition policy. In addition, it tests the appropriateness of applying a neofunctionalist approach to specify the conditions under which the EU engages externally in this policy area. The...
Persistent link: https://www.econbiz.de/10013286639