Access to external finance is a major obstacle for small and young firms; thus, providing subsidized credit to small and young firms is a widely-used policy option across countries. We study the impact of such targeted policies on aggregate output and productivity and highlight indirect general...

Government policies that attempt to alleviate credit constraints faced by small and young firms are widely adopted across countries. We study the aggregate impact of such targeted credit subsidies in a heterogeneous firm model with collateral constraints and endogenous entry and exit. A defining...

This paper examines whether founder family successions lower performance in large US firms. We find no significant decreases in either accounting performance or firm value, and instead find evidence that both are improved. Consistent with this, we present evidence that family successions are...

This paper investigates the relationship between ownership concentration and enterprise performance in Ukraine. Using data on 376 medium and large enterprises, it finds that ownership concentration is positively associated with enterprise performance in Ukraine. The paper also finds that...

The paper considers the impact of multiple shareholder-oriented governance practices on R&D decisions. Based on a sample of 5,713 firms belonging to 110 large French listed business groups, our results substantiate the idea that shareholder-oriented governance practices and a lower position in a...

This paper examines the ultimate ownership structure on accounting performance of 31 Islamic financial institutions (IFIs) in Malaysia. The IFIs include the commercial banks, merchant banks, discount houses and development financial institutions (Bank Simpanan Nasional and Bank Pertanian...

We examine the relationship between bank’s equity ownership and corporate financial performance based on cross-sectional data through 2SLS estimation model. Our evidence is based on listed 3203 non-financial firms of 16 Organization of Islamic Conference (OIC) member states with dual-banking...

Purpose - This paper aims to determine whether Islamic banks (IBs) and conventional banks (CBs) in Tunisia are distinguishable from one another based on financial characteristics during the 2005-2014 period covering the 2008 global financial crisis (GFC) and the 2011 Tunisian revolution....

So called "hard times" are in our paper connected with post-crisis situation. FLIEM model predicts that before the crisis, during the crisis and after the crisis phases are connected with higher levels of inventory in food processing enterprises. Investments in current assets of the businesses...