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Financial Markets, Bloated Governments and the Misallocation of Capital

Savvides, Savvakis C. - 2012

Through this paper the author discusses the phenomenon of excessive Government borrowing and the factors that lead Governments to be so dependent on financial markets. It is argued that the combined effect of unregulated financial intermediaries, hedge funds and Credit Rating Agencies in...

Persistent link: https://www.econbiz.de/10013105904

Does financial depth impact economic growth in North Cyprus?

Türsoy, Turgut; Faisal, Faisal - In: Financial innovation : FIN 4 (2018) 12, pp. 1-13

economic growth in North Cyprus. The reason for using the total deposit differently with the existing literature is because … North Cyprus is bank-based financial system. Therefore, this study provides an analysis of the connection between finance …-growth nexus in North Cyprus from 1978 through 2015, using the autoregressive distributed lag (ARDL) model and combined …

Persistent link: https://www.econbiz.de/10011883119

Bank Ownership and Credit Cycle : The Lower Sensitivity of Public Bank Lending to the Business Cycle

Duprey, Thibaut - 2013

This paper examines empirically to which extent public banks feature a different pattern in their lending behaviour over macroeconomic fluctuations. Based on a unique dataset from 1990 to 2010, including at most 459 public banks in 93 countries, I can handle ownership change by including records...

Persistent link: https://www.econbiz.de/10013089476

Maastricht criteria targeting and credit growth : empirical evidences for the new EU member states

Moinescu, Bogdan Gabriel - In: Romanian journal of fiscal policy : RJFP 3 (2012) 2, pp. 58-67

The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new member states of the European Union. The methodological framework is based on a two-compenent transmission mechanism represented by the output gap and the nonperforming loans. The...

Persistent link: https://www.econbiz.de/10010199902

Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel

Earle, John S.; Telegdy, Álmos - 2001

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller …

Persistent link: https://www.econbiz.de/10010262532

Divide and privatize: Firm break-up and performance

Koécenda, Evézen; Hanousek, Jan - 2011

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996-2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...

Persistent link: https://www.econbiz.de/10010274965

Divide and privatize: Firms break-up and performance

Koécenda, Evézen; Hanousek, Jan - 2010

We analyze the long-term effects of divesture and ownership change on corporate performance. We employ a unique data set for a large number of Czech firms spanning the period 1996-2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our results, which are...

Persistent link: https://www.econbiz.de/10010281888

Divide and privatize : firms break-up and performance

Kočenda, Evžen; Hanousek, Jan - 2010

quickly diminish over time. -- firm divestiture ; corporate performance ; ownership changes ; privatization ; emerging markets …

Persistent link: https://www.econbiz.de/10008738365

Political Capital vs. Constraint : Evidence from CEO Turnovers in Chinese Private Firms

Cao, Jerry - 2017

Previous theoretical and empirical studies suggest that CEOs' political connections are valuable to firms. We examine whether such connections become constraints if the expected political capital fails to materialize and the firm lacks other type of political power in place. Using a sample of...

Persistent link: https://www.econbiz.de/10012972711

Do Creditors Prefer Smooth Earnings? Evidence from European Private Firms

Gassen, Joachim - 2015

We investigate the interplay between creditor financing and the smoothness of earnings reported by European private firms and document how heterogeneous debt-contracting infrastructures across Europe moderate this relation. Most European private firms are owner-manager run enterprises with...

Persistent link: https://www.econbiz.de/10013032464

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