A large legal and economic literature describes how state-owned enterprises (SOEs) suffer from a variety of agency and political problems. Less theory and evidence, however, have been generated about the reasons why state-owned enterprises listed in stock markets manage to attract investors to...

We study if CEOs and their backgrounds matter for the performance of state-owned enterprises (SOEs) exploiting the fact that these companies had different CEOs (with different backgrounds) in different moments in time. We construct a database of Brazilian SOEs between 1973 and 1993 and make...

We propose a private-government principals-principals (PP) approach to understand corporate governance of state-owned multinationals. We explain how the conflicts between large government and private blockholders may affect managerial decisions in the propensity of completing a cross-border...

This paper examines the performance of infrastructure companies owned by the state, using the newly created World Bank Database of Infrastructure State-Owned Enterprises (SOEs). The data cover 19 countries and 135 SOEs between 2000 and 2018. The analysis reveals that infrastructure SOEs are...

This paper examines the performance of infrastructure companies owned by the state, using the newly created World Bank Database of Infrastructure State-Owned Enterprises (SOEs). The data cover 19 countries and 135 SOEs between 2000 and 2018. The analysis reveals that infrastructure SOEs are...