This paper compares the post-investment value-added activities performed by governmental venture capital (GVC) and independent venture capital (IVC) for their portfolio companies, and controls for the selection effect that the different investment profiles of these investors might have on the...

Firm growth is considered to be one of the main drivers of economic growth. Whether adequate access to external finance is an important factor for firm growth is still a point of debate in literature. In this paper, we study the relationship between firms’ access to finance and their...

We investigate the implications of venture capital (VC) investor type (government or private) on the operating efficiency of a sample of 515 Belgian portfolio firms up to 3 years after the investment. We find that the government VC-backed firms display significant reductions in productivity. No...

This paper investigates the role of stock and interbank markets in measuring bank performance in Korea, Malaysia, and Thailand. Research on whether financial markets served in terms of assessment and discipline of banks has been done in advanced countries; however, there has been limited...

This paper analyzes the relationship of ownership concentration and firm performance in the context of different institutional environments in 28 Central and Eastern European transition economies. Using the BEEPS data for the period from 2002 to 2009 we find an inverted u-shaped relation of...

This paper analyses the German corporate law reform's effect on the publicly listed companies' ownership and performance. First, theoretically plausible implications of the most important laws that were issued 1990-2009 are provided, then an empirical analysis using 1997-2008 panel data...

In the wake of the global financial crisis, several macroeconomic contributions have highlighted the risks of excessive credit expansion. In particular, too much finance can have a negative impact on growth. We examine the microeconomic foundations of this argument, positing a non-monotonic...

This paper investigates the influence of firm-level corporate governance on financial performance of the listed firms in Bangladesh. Agency theory suggests that better corporate governance reduces expropriation costs, which in turn enhances investors' confidence in the firm's future cash flow...

Company performance is one of the most important aspect in an organization. It is important for an organization to be a profitable and survive over time. The image of a company is based on their performance. A bad company performance will lose to attract the shareholder as shareholder is one of...

South Africa, an emerging economy has evolved a relatively sophisticated code of corporate governance (CG). The latest iteration, King III, introduced in 2010 provides a laboratory for evaluation of the influence of a key element of CG, board independence (BI) on firms' financial performance...