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We investigate the nature and extent of information asymmetry among traders in companies with government ownership. Consistent with a less transparent information environment, we find relatively less informed trading in the shares of firms with government presence, and specifically, fewer...
Persistent link: https://www.econbiz.de/10011334148
Our research tests the difference in investment efficiency between state-owned enterprises (SOEs) and private firms and then evaluates the effect of privatisation and equitisation policies on the investment efficiency of former state owned enterprises (SOEs). We use a novel dataset from Viet Nam...
Persistent link: https://www.econbiz.de/10010499591
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/10011402871
In Romania, as in many Central and Eastern Europe countries, during the communist regime all the banks were owned by the state and their activities were circumscribed by rigid norms. After the communist regime had fallen, the state owned banks had to adapt to a competitive environment. The...
Persistent link: https://www.econbiz.de/10013099045
In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of patents per dollar spending of R&D expenditure. The data indicate that minority SOEs are substantially more innovatively efficient than nonSOEs and majority SOEs. The relative...
Persistent link: https://www.econbiz.de/10012835354
The aim of this study is to investigate the pre- and post-privatization financial and operational performance of forty … two Portuguese companies in most of sectors of economic activity that experience full or partial privatization through … whether or not the privatization of sate-owned enterprises (SOE's) had caused improvements on the economic and financial …
Persistent link: https://www.econbiz.de/10012962845
We employ 19,521 unique firms in 30 transition economies to investigate the relation between the origins of private firms and their financing patterns. In our sample, the private firms are either privatized former state-owned enterprises (SOEs) or ab initio (from the beginning) private firms....
Persistent link: https://www.econbiz.de/10012903516
This paper identifies product market competition as a fundamental impetus for privatization. Based on the economy with … and how competition affects privatization. We find that state-owned enterprises (SOEs) more affected by the competitive … and strategic importance of SOEs are key considerations of the state's privatization decisions. Finally, we find regions …
Persistent link: https://www.econbiz.de/10012897202
outsourced to private enterprises. Using hand-collected data on U.S. prisons, I find that privatization is associated with an …
Persistent link: https://www.econbiz.de/10012823336
The aim of this work is to investigate the determinants and why and how the post-privatization firm's performance … performance behavior, based on the agency, property rights and public choice theories. We conclude that the privatization itself … companies are listed in a stock exchange after privatization, when they are privatized by an initial public offering and when …
Persistent link: https://www.econbiz.de/10012975403