Showing 1 - 10 of 17
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade … (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate … pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its …
Persistent link: https://www.econbiz.de/10010988807
We use new firm-level data to examine the effects of firm divestitures and privatization on corporate performance in a … rapidly emerging market economy. Unlike the existing literature, we control for accompanying ownership changes and the fact …'s profitability but do not alter its scale of operations, while the effect of privatization depends on the resulting ownership …
Persistent link: https://www.econbiz.de/10009477561
Persistent link: https://www.econbiz.de/10010848610
We use new firm-level data to examine the effects of spinoffs and privatization on corporate performance in a rapidly … control for accompanying ownership changes and the fact that spinoffs and ownership are endogenous variables. We find that … spinoffs increase the firm’s profitability but do not alter its scale of operations, while the effect of privatization …
Persistent link: https://www.econbiz.de/10005077066
In this article we analyze medium- and long-term effects of firm break-up (and subsequent change in ownership) on its profitability and productivity. We use an extensive data-set of the Czech firms for the period 1996-2005. We employ the propensity score based matching methodology to account for...
Persistent link: https://www.econbiz.de/10009368420
Using cross-sectional analysis of corporate dividend policy we show that large shareholders extract rents from firms and expropriate minority shareholders in the weak corporate governance environment of an emerging economy. By comparing dividends paid across varying corporate ownership...
Persistent link: https://www.econbiz.de/10005086633
Using cross-sectional analysis of corporate dividend policy we show that large shareholders extract rents from firms and expropriate minority shareholders in the weak corporate governance environment of an emerging economy. By comparing dividends paid across varying corporate ownership struc-...
Persistent link: https://www.econbiz.de/10011071083
Learning is a subject of intense research in experimental economics. We contribute to this debate by presenting persuasive evidence that learning took place among uninformed heterogeneous agents on a quasi-stock market during a large-scale natural experiment that by size, incentives, and...
Persistent link: https://www.econbiz.de/10005146552
Learning is a subject of intense research in economics. We present persuasive evidence that learning took place among uninformed heterogeneous agents during a large-scale naturally-occurring set of auctions. Empirical study employs a unique bidding data set of 5000 individual investors that...
Persistent link: https://www.econbiz.de/10005258221
This research investigates the emergence of stock market in the Czech Republic. We use Czech mass privatization as an … if certain pre-privatization and privatization characteristics of the companies had been taken into account when deciding … which companies to place on the stock exchange for public trading following the mass privatization. This result has …
Persistent link: https://www.econbiz.de/10009492797