Showing 1 - 10 of 5,104
The purpose of this paper is to empirically investigate the relationship between ownership identity and the performance … of firms in terms of profitability and solvency. Using cross-sectional data covering over 25,000 firms worldwide and by … privatization could improve the performance of public firms. However, a study over a longer period is needed before these results …
Persistent link: https://www.econbiz.de/10012254932
describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm …We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … performance in a panel framework. The results of OLS, LAD, and fixed-effects estimations consistently show a positive, highly …
Persistent link: https://www.econbiz.de/10010262532
positive effect of ownership concentration on firm performance matters more in countries with weak investor protection and that … private domestic ownership leads to higher performance. …We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We …
Persistent link: https://www.econbiz.de/10011325056
Even though it is well documented that privatization leads to an improvement in the performance of state … because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of … firms versus the performance of SOEs. I document significant improvements in profitability, efficiency, and dividends, and …
Persistent link: https://www.econbiz.de/10011335746
The role of government shareholding in corporate performance is central to an understanding of China?s newly privatized … ownership structure of 826 listed corporations and find that government shareholding is surprisingly large. Its effect on … shareholding stakes increase, but beyond this corporate value begins to increase. We interpret this in terms of ownership …
Persistent link: https://www.econbiz.de/10010262209
and how this interaction is affected by ownership structure. We show that firms in our sample increase their leverage …
Persistent link: https://www.econbiz.de/10010312393
ownership forms on companies and financial performance and to highlight the specifics of these relations in the environment of … effect of ownership forms on companies and financial performance is more significant in Eastern European countries compared … to different studies, an alternative option for transition economies is foreign ownership. Recent studies show that the …
Persistent link: https://www.econbiz.de/10011551392
This paper uses a unique micro-level data-set on Chinese firms to test for the existence of a "political-pecking order" in the allocation of credit. Our findings are threefold. Firstly, private Chinese firms are credit constrained while State-owned firms and foreign-owned firms in China are not;...
Persistent link: https://www.econbiz.de/10010313422
This paper investigates the impact of ownership structure on the productivity performance of Russian industrial … possible selection effects in the privatisation process that may bias the observed ownership-performance relationship. The …) and outsiders (individual and institutional investors) - with continued ownership by the state, and it takes into account …
Persistent link: https://www.econbiz.de/10011608483
underpricing at SIP-time. We find that poor perfirmance and financing constraints, reflected by a low profitability and high … leverage, mainly drive public share allocation. Also, the government widens ownership to a larger extent in firms that receive … decision, we find that the fraction of ownership divested is significantly positively related to underpricing. …
Persistent link: https://www.econbiz.de/10010313366