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In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of patents per dollar spending of R&D expenditure. The data indicate that minority SOEs are substantially more innovatively efficient than nonSOEs and majority SOEs. The relative...
Persistent link: https://www.econbiz.de/10012835354
The conventional wisdom is that state ownership may hinder patenting through reduced incentives and pronounced agency problems associated with state-owned enterprises (SOEs). Empirical evidence from a variety of contexts, including the U.S., Europe, and China, is consistent with this view, that...
Persistent link: https://www.econbiz.de/10012935251
We examine whether political connections influence the public procurement award decisions made by government bodies of countries across the globe. We find that politically connected firms are more likely to receive government contracts and receive larger value contracts. Financial market and...
Persistent link: https://www.econbiz.de/10013291377
? We examine ownership structure prior to going private transactions in 33 countries around the world from 2002 to 2014.The …
Persistent link: https://www.econbiz.de/10012970158
Following the financial crisis and recent recession, the center of gravity of global economic growth and competitiveness is shifting toward emerging economies. As a leading and increasingly influential emerging economy, China is currently attracting the attention of academics, practitioners, and...
Persistent link: https://www.econbiz.de/10012985994
This study examines the impact of information environment in capital markets on a firm’s stakeholder paradigm. We integrate research on time horizons with stakeholder theory to unravel both the choice between shareholder diagram and stakeholder diagram, and the choice between generic and...
Persistent link: https://www.econbiz.de/10013294715
This paper reviews the literature on corporate governance in extreme institutional environments, including both formal and informal institutions. We focus on three main areas of research: corporate governance in an international context, banking and corporate governance, and governance in...
Persistent link: https://www.econbiz.de/10013212869
We introduce the topic of this special issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the special issue at the intersection of law,...
Persistent link: https://www.econbiz.de/10012964683
This paper examines the causes and consequences of mutual fund outsourcing to different types of service providers: advisors, custodians, administrators, and transfer agents. The data indicate outsourcing is less common among bank-managed funds, funds of leading groups, but more common among...
Persistent link: https://www.econbiz.de/10013023462
This paper examines the causes and consequences of mutual fund outsourcing to different types of service providers: advisors, custodians, administrators, and transfer agents. The data indicates outsourcing is less common among bank-managed funds, funds of leading groups, but more common among...
Persistent link: https://www.econbiz.de/10013022458