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This paper analyses the causes of managerial change and the impact of different reforms on firm performance, using survey data from 300 Ukrainian firms. The main findings are: 1) ownership and competition are linked to managerial change: de novo firms but also privatised firms experienced less...
Persistent link: https://www.econbiz.de/10009755918
This paper studies insider privatization in rural China and provides an explanation of why some firms have performed … well after privatization but others have not. We show theoretically that the underperformance of insider-privatized firms … could be due to the manager-cum-owner's lack of incentives after privatization. A screening theory predicts that the buyout …
Persistent link: https://www.econbiz.de/10014066983
During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...
Persistent link: https://www.econbiz.de/10003299971
During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of the stock of socialist physical capital. Despite the obvious importance of this phenomenon, there have been no efforts to model, measure and investigate this process...
Persistent link: https://www.econbiz.de/10014058137
klarem Zusammenhang zum Unternehmenserfolg stehen. Unabhängig von ihrem professionellem Hintergrund und Alter haben weder die …. Folglich können sie nicht wirklich zum Unternehmenserfolg beitragen. …
Persistent link: https://www.econbiz.de/10010225528
This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive compensation and ownership structure, we find for...
Persistent link: https://www.econbiz.de/10003225948
Persistent link: https://www.econbiz.de/10010461489
Persistent link: https://www.econbiz.de/10014369683
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...
Persistent link: https://www.econbiz.de/10013104354
We examine how government ownership affects the top management team's (TMT) pay dispersion and how such TMT pay dispersion affects subsequent firm performance. We test three competing views on the influences of government ownership, referred to as the agency view, the equity view, and the...
Persistent link: https://www.econbiz.de/10012851758