The study described in this Note compared the pre- and post-privatization performance of 61 companies in 18 countries and 32 industries. These companies were sold to the public through a share issue and thus their comparable pre- and post-issue financial and accounting data could be obtained...

This paper focuses on the relationship between corporate governance and corporate performance by initial public offerings (IPOs) of Kazakhstan state-owned enterprises (SOEs) in the transition economies of Central Asia. It argues that privatization (i.e., IPO) has different effects depending on...

This study applies social capital theory to the ownership group in private firms. Extant research on ownership focuses primarily on the type or structure of ownership, whether as independent or control variable, to predict various firm effects. However, especially in the private firm, owners are...

Improved governance and lower start-up costs may not be sufficient for encouraging the type of entrepreneurship that matters for economic growth. Using panel data on 60 countries spanning the period 2003-07 this paper establishes that (i) opportunitymotivated entrepreneurship (as opposed to...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...

Spinouts – entrepreneurial ventures founded by ex-employees of incumbent firms within the same industry – have emerged in numerous industries. Some existing literature argues that they typically have a negative association with their parents’ performance due to the loss of human capital,...