This report is the first known stocktaking of its kind to provide a regional overview of state-owned enterprise (SOE) governance reforms and challenges across the Southern African Development Community (SADC) region. Part One summarises the challenges and governance practices related to...

State-owned and other state-invested enterprises (SIEs) have become more prominent in the global economy over the last decade. A growing role for state-invested enterprises in the marketplace is not in itself onerous. According to an OECD consensus, as expressed through the Organisation’s...

This report aims to provide an overview of business integrity and anti-bribery legislation, policies and practices applicable to state-owned enterprises (SOEs) operating across the Southern African Development Community (SADC) region. Part 1 provides a rationale for considering the impact that...

From its inception, the federal securities law regime created and enforced a major divide between public and private capital raising. Firms that chose to “go public” took on substantial disclosure burdens, but in exchange were given the exclusive right to raise capital from the general...

In today's corporate Russia, the State remains a significant shareholder with controlling or blocking stakes in several large and dominant enterprises, which according to some studies account for roughly 50% of the country's GDP. While noteworthy improvements were made in the past years with...

We study the effects of implicit government guarantee (IGG) on corporate investment by exploiting a series of defaults in China's onshore bond markets by state-owned enterprises (SOEs) starting in 2015. We find that SOEs reduce their investments by 2.4% of book assets, on average, relative to...

We investigate how the state's intervention in the investment decisions of Chinese local SOEs is affected by corporate control distance in the form of pyramidal layers and the geographical distance between the SOEs and their government controllers. Although both the corporate control distance...

The paper establishes if dividend policy is a trustworthy indicator for the investors to predict a company's future growth in value to maximize their returns on their portfolios. The analysis technique used is cross-sectional regression analysis since the research focuses on various companies...

In this paper, we examine the relation between government ownership and stock price informativeness around the world. Using a sample of privatized firms from 41 countries between 1983 and 2007, we find strong and robust evidence that state ownership is associated with lower firm-level stock...