State-owned enterprises (SOEs) play a significant role in the economy of Papua New Guinea (PNG), as they do in other Pacific countries. They provide a range of essential services, most notably power, water, telecommunications, and transport that are vital to commerce and to the livelihoods of...

Motivated by the way a small open economy should react to business cycles, we have estimated a small open economy (SOE) model for Nigeria. This is with a view to understanding how the Nigerian economy should be managed in the face of a cycle such as the current global meltdown. Our SOE model is...

In this paper we examine the governance of a Chinese state-owned enterprise (SOE) and try to highlight accounting environment in the People's Republic of China (PRC). We look at the operational aspect of the Qingtongxia Aluminum Smelter Corporation, and try to shed light on the role of...

We examine changes in market values and accounting returns for a sample of publicly traded Chinese firms around announcements of block-share transfers among government agencies (“State Bureaucrats”), market-oriented State-owned enterprises (“MOSOEs”) and private investors (“Private...

We investigate why the Chinese government chooses to perform share issue privatization (SIP) of its state-owned enterprises (SOEs) in Hong Kong, despite the benefit of facilitating the domestic stock market development if performing SIP in China (Subrahmanyam and Titman, 1999) and the higher...

Focusing on employment issues, this paper investigates the impact of government control on state-owned enterprise's (SOE) excess employment, and hence on its performance and the compensation-based incentive mechanism. The results show that the excess employment in SOEs does not result in a...

Privatization is under attack. Criticisms run from corrupt deals to abuse of market power and social welfare losses. We evaluate the empirical record on privatization, relying on recent comprehensive studies from Latin America. The paper presents four main results. First, the increased...

We investigate the mechanisms of knowledge governance and show that the actual economic benefits stemming from knowledge externalities depend on the characteristics of (a) the sources of such externalities, (b) the context in which spillovers take place, (c) the potential users of the...

In this paper we extend the corporate governance literature by combining stakeholder and strategic contingency theories to provide an explanation of how owners influence the financial performance of firms. We hypothesize that ownership influences financial performance through three other...