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Regulatory independence and political interference : evidence from EU mixed-ownership utilities’ investment and debt

Cambini, Carlo; Rondi, Laura - 2010 - This draft: 11 May 2010

This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of independence; b) partial ownership of the state in the regulated...

Persistent link: https://www.econbiz.de/10008729094

Intra-industry effects of privatization announcements : evidence from developed and developing countries

Otchere, Isaac - 2002

We examine the stock price reaction of rival firms to privatization announcements to infer information about industry … effects of privatization. We find that the rival firms reacted negatively to privatization announcements, thus suggesting that … find that the adverse reaction of the rival firms to privatization announcements in developing countries is stronger than …

Persistent link: https://www.econbiz.de/10011598302

The private sector advances in China : the evolving ownership structures of the largest companies in the Xi Jinping era

Huang, Tianlei; Véron, Nicolas - 2022

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 …

Persistent link: https://www.econbiz.de/10013184745

Postprivatization corporate governance : the role of ownership structure and investor protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003

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

EIF Private Debt Survey 2021 : ESG considerations in the lending strategy of private debt funds

Krämer-Eis, Helmut; Block, Jörn; Botsari, Antonia; … - 2022

Against the background of the need for alternative and additional financing channels for SMEs in Europe, this paper analyses the market segment of debt funds and provides comprehensive insight into ESG considerations in the lending strategy of private debt funds. The paper is based on the...

Persistent link: https://www.econbiz.de/10013252696

Personal Taxes, Leverage, and Real Investment

Morellec, Erwan; Schürhoff, Norman - Institut für Schweizerisches Bankwesen <Zürich> - 2007

This paper examines the impact of capital gains taxation on ﬁrms investment and ﬁnancing decisions. We develop a real options model in which the timing of investment, the decision to default, and the ﬁrms capital structure are endogenouslyand jointly determined. Our analysis shows that...

Persistent link: https://www.econbiz.de/10005858029

Multinationals stockpiling cash : exploring a commodity boom

Hansen, Erwin; Wagner, Rodrigo - 2015

This paper explores how affiliates of multinational corporations save liquidity when facing a transitory cash-flow shock. For this a panel is first built of non-publicly traded copper mines in South America between 2001 and 2012, most of them set up as Foreign Direct Investment (FDI). This...

Persistent link: https://www.econbiz.de/10011316666

Privatization and stock market liquidity

Bortolotti, Bernardo; Jong, Frank de; Nicodano, Giovanna; … - 2002

Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market … development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market … liquidity measures in a panel with monthly data of 19 developed economies. Privatization is shown to be key in improving …

Persistent link: https://www.econbiz.de/10011598239

Privatisation methods and economic growth in transition economies

Bennett, John; Estrin, Saul; Maw, James W.; Urga, Giovanni - 2004

We investigate the impact of differences in privatisation method on national economic performance in transition economies. Our approach is to estimate, using dynamic panel data methods, a growth equation over 23 countries for the period 1990-2001. Among our results, we find that mass...

Persistent link: https://www.econbiz.de/10011606670

Cracks in the facade : American economic and financial structures after the boom

Emmons, William R. (contributor); … - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001974484

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