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The link between firm risk-taking and CEO power of listed firms on the Vietnamese stock market : the role of state ownership
Ngoc Thanh Tran; Thi Ngoc Dung Pham; Dien Duan Nguyen; … - In: Cogent business & management 11 (2024) 1, pp. 1-16
The Chief Executive Officer (CEO) is pivotal in firm governance and is tasked with policy implementation and maximizing shareholder benefit. However, predicting CEO behaviour remains challenging, especially when considering CEO power (CEOP). Hence, this study explores the link between CEOP and...
Persistent link: https://www.econbiz.de/10014526511
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Does ownership structure matter to public listed firms? : review on the corporate governance and involuntary delisting practices
Kimiya Akbarpoursokeh; Azizah Abdullah; Fadzlina Mohd Fahmi - In: International journal of accounting and finance 8 (2018) 4, pp. 340-363
Persistent link: https://www.econbiz.de/10012023872
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The causes and consequences of managerial change in Ukraine and the complementarity of reforms
Warzynski, Frederic - 2000
This paper analyses the causes of managerial change and the impact of different reforms on firm performance, using survey data from 300 Ukrainian firms. The main findings are: 1) ownership and competition are linked to managerial change: de novo firms but also privatised firms experienced less...
Persistent link: https://www.econbiz.de/10009755918
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Insider Privatization with a Tail : The Buyout Price and Performance of Privatized Firms in Rural China
Li, Hongbin; Rozelle, Scott - 2003
This paper studies insider privatization in transition economies. We show theoretically that the underperformance of … insider-privatized firms could be due to the manager-cum-owner's lack of incentives after privatization. A screening theory … privatization; in contrast, heavily discounted firms perform indistinguishably from government-owned firms …
Persistent link: https://www.econbiz.de/10014107516
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Managerial Ownership in a Private Firm Framework
Gao, Chao; Johnston, Mitchell - 2022
We empirically study the relation between managerial ownership and firm performance in a unique private firm setting. The simplicity of the ownership structure and nature of our sample firms helps isolate the incentive-aligning effect of managerial ownership from the influence of other effects....
Persistent link: https://www.econbiz.de/10013290126
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Managerial Effect or Firm Effect : Evidence from Private Debt Market
Francis, Bill - 2015
It is the common understanding that private lenders evaluate and price the debt contract based on the credit rating, default risk and firm characteristics of the borrowing firms. This paper takes a different angel and investigates the extent to which the loan contract incorporates and reflects...
Persistent link: https://www.econbiz.de/10013034593
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Financial Constraints of Private Firms and Bank Lending Behavior
Behr, Patrick - 2015
We investigate whether and how financial constraints of private firms depend on bank lending behavior. Bank lending behavior, especially its scale, scope and timing, is largely driven by bank business models which differ between privately owned and state-owned banks. Using a unique dataset on...
Persistent link: https://www.econbiz.de/10013038432
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The Objective of a Privately Owned Firm Under Imperfect Competition
Bejan, Camelia - 2014
This paper proposes a model of imperfect competition among privately owned firms that act in the best interest of their shareholders. The existence of a solution for the model is proved under weaker conditions than the ones generally used in the literature. In particular, the results did not...
Persistent link: https://www.econbiz.de/10013051138
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Privatization, Free Riding, and Industry-Expanding Lobbying
Volokh, Alexander - 2013
Critics of privatization argue that privatization encourages providers to lobby for industry expansion. I argue that … expenditures, some initial amount of privatization always decreases industry-expanding advocacy. The extent of privatization for … the extent of collusion. Under relaxed assumptions, the effect of privatization on industry-expanding advocacy is …
Persistent link: https://www.econbiz.de/10014052239
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Private Sanctions
Hart, Oliver; Thesmar, David; Zingales, Luigi - 2022
We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences. Only 37% think that leaving Russia is a purely...
Persistent link: https://www.econbiz.de/10014237512