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The Deregulation of Private Capital and the Decline of the Public Company
de Fontenay</!>, Elisabeth - 2017
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...
Persistent link: https://www.econbiz.de/10012958861
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Corporate Governance of Russia’s State-Owned Enterprises
Lehuede, Hector J. - 2017
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...
Persistent link: https://www.econbiz.de/10012944509
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State Ownership, Political Institutions, and Stock Price Informativeness : Evidence from Privatization
Ben‐Nasr, Hamdi - 2014
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...
Persistent link: https://www.econbiz.de/10013061324
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The effects of privatization and corporate governance of soes in transition economy : the case of Kazakhstan
Lee, Keun Jung - 2020
privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …
Persistent link: https://www.econbiz.de/10012212672
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The motives for issuing exchangeable bonds in the privatization of state-owned enterprises
Kaźmierczak, Damian - In: Comparative economic research : Central and Eastern Europe 26 (2023) 2, pp. 33-49
investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …
Persistent link: https://www.econbiz.de/10014339792
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State-owned enterprise governance : a stocktaking of reforms and challenges in Southern Africa
Balbuena, Sara S. - 2014
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...
Persistent link: https://www.econbiz.de/10010233543
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State-invested enterprises in the global marketplace : implications for a level playing field
Christiansen, Hans; Kim, Yunhee - 2014
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...
Persistent link: https://www.econbiz.de/10010382770
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Stocktaking of anti-corruption and business integrity measures for Southern African SOEs
Crane-Charef, Mary - 2015
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...
Persistent link: https://www.econbiz.de/10011402466
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The Real Effects of Implicit Government Guarantee : Evidence from Chinese SOE Defaults
Jin, Shuang - 2020
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...
Persistent link: https://www.econbiz.de/10012854660