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We document evidence of corruption in Chinese state asset sales. These sales involved stakes in partially privatized … with deal attributes associated with misgovernance and corruption. Sales by "disguised" owners that misrepresent their …
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for private gain. We study the relationship between discretion and corruption in Italian government procurement auctions …, using a confidential database of firms and procurement officials investigated for corruption by Italian enforcement …, discretionary procedure auctions are associated with corruption only when conducted with fewer than the formally required number of …
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We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of government-controlled companies that had been slated for definite privatization by the BJP dropped by 3.5...
Persistent link: https://www.econbiz.de/10005830631
We document the market response to an unexpected announcement of proposed sales of government-owned shares in China. In contrast to the "privatization premium" found in earlier work, we find a negative effect of government ownership on returns at the announcement date and a symmetric positive...
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Die globale Armut ist allgegenwärtig: Die unheilvolle Allianz von Korruption und Gewalt stellt sich dem wirtschaftlichen Fortschritt gerade in Entwicklungsländern in den Weg. Die Rede ist von Warlords in Afrika, chinesischen Schmugglern und Diplomaten, die ihre Strafzettel nicht zahlen: Wenige...
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