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Legal corruption, politically connected corporate governance and firm performance
Domadenik, Polona; Prašnikar, Janez; Švejnar, Jan - 2014
In this paper we present and test a theory of how political corruption, found in many transition and emerging market … institutions that do not punish political corruption result in political connectedness of firms that in turn has a negative effect …
Persistent link: https://www.econbiz.de/10010381906
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Government Ownership, Financial Constraint, Corruption, and Corporate Performance : International Evidence
Haider, Zulfiquer Ali - 2017
country-level corruption on those two relationships. Results show that government-owned firms face fewer financial constraints … pronounced for firms operating in countries with a lower level of corruption …
Persistent link: https://www.econbiz.de/10012943354
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The effects of privatization and corporate governance of soes in transition economy : the case of Kazakhstan
Lee, Keun Jung - 2020
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...
Persistent link: https://www.econbiz.de/10012212672
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The nexus between public sector corruption and private sector efficiency : evidence from worldwide firm-level data
Kumanayake, Nandika Sanath; Kumara, Ajantha Sisira; … - In: Review of development economics : an essential resource … 27 (2023) 2, pp. 1056-1077
Persistent link: https://www.econbiz.de/10014252584
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Should One Hire a Corrupt CEO in a Corrupt Country?
Mironov, Maxim - 2013
This paper examines the interaction between propensity to corrupt (PTC) and firm performance. First, I use unique data from Moscow traffic violations to build an individual measure of PTC for every Muscovite with a driver's license (3.1 million people). Next, I determine the PTC for the...
Persistent link: https://www.econbiz.de/10013091347
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State Ownership and the Allocation of Capital
Kuang, Chun - 2019
This paper studies the capital allocation decisions of firms that are comparable except for ownership under a unique setting using investment level data. We find allocative inefficiency across ownership to be exacerbated under policy distortions through subsidized credits targeted at state-owned...
Persistent link: https://www.econbiz.de/10012897632
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International Evidence on State Ownership and Trade Credit : Opportunities and Motivations
Chen, Ruiyuan (Ryan) - 2020
Recent events, most notably the Global Financial Crisis and the COVID-19 pandemic, have made it increasingly apparent that liquidity is synonymous with corporate survival. In this paper, we explore how governments can fulfill an important need as suppliers of liquidity. Building on the financing...
Persistent link: https://www.econbiz.de/10012853090
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National Culture and Privatization : The Relationship between Collectivism and Residual State Ownership
Boubakri, Narjess; Guedhami, Omrane; Kwok, Chuck C.Y; … - 2015
Using a large hand-collected database of 605 privatized firms from 48 countries, we examine the relationship between the collectivism measure of culture and residual state ownership in privatized firms. We find that the continued role of government in privatized firms is positively related to...
Persistent link: https://www.econbiz.de/10014163781
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A Review of the Internationalization of State-Owned Firms and Sovereign Wealth Funds : Governments Nonbusiness Objectives and Discreet Power
Cuervo-Cazurra, Alvaro; Grosman, Anna; Megginson, William L. - 2022
We review and bridge the literature on the internationalization of state-owned firms and sovereign wealth funds to provide a novel understanding of how governments’ nonbusiness objectives affect foreign investments. We explain how governments as foreign investors behave differently from...
Persistent link: https://www.econbiz.de/10013294864
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Political Corruption and Mergers and Acquisitions
Nguyen, Nam - 2019
This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that … local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas … relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring …
Persistent link: https://www.econbiz.de/10012899211