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Megginson, William L. - 2010

Recent evidences indicate that privatization leads to enormous benefits to society almost without undesirable costs …. However, stakeholders of privatization seem not to satisfy the resulting performance of privatized firms. Using data from 202 … companies up to 10 years and study costs and benefits of privatization. Privatization is followed by a 1.1-percentage …

Persistent link: https://www.econbiz.de/10013146701

Going Public or Staying Private : The Cost of Mandated Transparency

Guo, Yifeng - 2020

Public markets are transparent institutions, where disclosure is mandatory and order flow observable. We show that transparency can lead to insufficient information acquisition and inefficient investment. Our model links a firm's preference for public markets to the quality of disclosure...

Persistent link: https://www.econbiz.de/10012847432

Private communication between managers and financial analysts : evidence from taxi ride patterns in New York City

Choy, Stacey; Hope, Ole-Kristian - 2022

This study constructs a novel measure that aims to capture face-to-face private communications between firm managers and sell-side analysts by mapping detailed, large-volume taxi trip records from New York City to the GPS coordinates of companies and brokerages. Consistent with earnings releases...

Persistent link: https://www.econbiz.de/10012886366

Postprivatization corporate governance : the role of ownership structure and investor protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...

Persistent link: https://www.econbiz.de/10011591071

The effects of privatization and corporate governance of soes in transition economy : the case of Kazakhstan

Lee, Keun Jung - 2020

privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …

Persistent link: https://www.econbiz.de/10012212672

The motives for issuing exchangeable bonds in the privatization of state-owned enterprises

Kaźmierczak, Damian - In: Comparative economic research : Central and Eastern Europe 26 (2023) 2, pp. 33-49

investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …

Persistent link: https://www.econbiz.de/10014339792

Marktpreisrisiko-Reporting bei Nichtfinanzinstituten nach IFRS 7: empirische Befunde zum Einsatz von Value at Risk und Sensitivitätsanalysen bei kapitalmarktorientierten Unternehme...

Fürst, Benedikt; Henselmann, Klaus; Klein, Martin - 2009

The paper shows the ways of disclosing financial risks by IFRS 7 and certain types of sensitivity analysis. The different possibilities of preparing a sensitivity analysis, such as value at risk are illustrated and their suitability for reporting are faced critically. Following, the manner of...

Persistent link: https://www.econbiz.de/10010299998

Enforcement in der Rechnungslegung: eine empirische Untersuchung der HDAX 110-Unternehmen

Henselmann, Klaus; Klein, Martin; Schmidt, Mark - 2009

The Financial Reporting Enforcement Panel (FREP) has been examining financial reporting of companies listed in the regulated market in Germany since 1.7.2005. The paper analyzes the enforcement disclosure quality between 2006 and 2008 by comparing the published activity reports of the panel with...

Persistent link: https://www.econbiz.de/10010300000

Prognoseeignung des Prognoseberichts? Eine empirisch gestützte Diskussion vor dem Hintergrund aktueller Änderungen im DRS 15 und der geplanten Umsetzung des ED Management Commentar...

Henselmann, Klaus; Klein, Martin; Raschdorf, Florian - 2010

In today's uncertain financial climate it is particularly important for entities to explain their financial performance relative to their expectations. Therefore, the paper analyzes the quality and quantity of management reporting in Germany's publicly traded MDAX and SDAX companies using a...

Persistent link: https://www.econbiz.de/10010300005

Systemic risk spillovers in the European banking and sovereign network

Betz, Frank; Hautsch, Nikolaus; Peltonen, Tuomas A.; … - 2016

We propose a framework for estimating time-varying systemic risk contributions that is applicable to a high-dimensional and interconnected financial system. Tail risk dependencies and systemic risk contributions are estimated using a penalized two-stage fixed-effects quantile approach, which...

Persistent link: https://www.econbiz.de/10011414985