Showing 1 - 10 of 17,699
We study the problem of a firm that is controlled by a large shareholder and is going public in the presence of agency problems, asymmetric information, and trading of shares over time. In this multiperiod signalling game, a shareholder-manager can develop a reputation for expropriating low...
Persistent link: https://www.econbiz.de/10005245249
We present data on ownership structures of large corporations in 27 wealthy economies, making an effort to identify …, relatively few of these firms are widely-held, in contrast to the Berle and Means image of ownership of the modern corporation …
Persistent link: https://www.econbiz.de/10005245620
Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain … the role of prices under socialism and capitalism, and ignored the enormous importance of ownership as the source of …
Persistent link: https://www.econbiz.de/10005245700
We analyse the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the first part of the paper we study the optimal debt contract -- specifically, the trade-off between the size of the loan and the repayment -- under the assumption that some debt...
Persistent link: https://www.econbiz.de/10005256021
This paper presents a situation analysis of small scale enterprises in Zimbabwe, examines the constraints faced by them …
Persistent link: https://www.econbiz.de/10005779881
-weak transition economies, ownership change has so far not delivered on its promise. Why? Mass and rapid privatization shcmes turned …
Persistent link: https://www.econbiz.de/10005487308
Persistent link: https://www.econbiz.de/10005625637
While the enterprise reform in China has provided incentives to its state-owned enterprises (SOEs), their poor … performance relative to other forms of enterprises remains puzzling. This paper provides an answer to this puzzle by studying …
Persistent link: https://www.econbiz.de/10008867747
ownership effect. Findings-The authors find that large firms favour debt financing while profitable firms rely more on internal … capital structure. The authors also observe strong industrial effect and ownership effect. Real estate firms borrow … firms. On the other hand, firms with state ownership tend to borrow more, while firms with foreign ownership choose more …
Persistent link: https://www.econbiz.de/10010932881
Purpose -The last decade witnessed the reform of China's financial sector, during which Chinese commercial banks …’ ownership and operation had been significantly changed in order to improve efficiency. The purpose of this paper is to …-by-year productivity. Lastly, regression analysis examines how bank characteristics and ownership structure affect productivity efficiency …
Persistent link: https://www.econbiz.de/10010932884