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corruption. This study complements these cross-country studies by focusing on microeconomic factors that affect bribes paid in a … equilibrium level of corruption in the sector. On the side of bribe payers, enterprises that are more profitable, enterprises that … macroeconomic and political factors that previous studies have found to affect the overall level of corruption. This paper - a …
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This paper investigates how, government ownership can better enhance entrepreneurs' incentives to invest than private ownership. Bureaucracy creates opportunities for governments to extort entrepreneurs, as entrepreneurs make transfer payments to these governments in order to steer through...
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This paper examines the impact of cross-country variation in shareholders' and debt holders' rights on post-IPO performance and survival of newly listed stocks across the globe. Using a sample of 10,490 initial public offerings (IPOs) in 40 countries between 2000 and 2013, we find that post-IPO...
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Using a new dataset on firms privatized in the Czech Republic from 1993 to 1996, we show that, even after controlling for size and structure, voucher-privatized joint stock companies perform worse than firms with concentrated shareholdings that had to be purchased for cash, i.e., limited...
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