This is an empirical study that examines the underpricing and aftermarket long-term performance of IPOs in China and IPO underpricing. Corporate governance aspects that may play a role in IPOs, such as ownership structure and external directors, are studied.The study show that firms with higher...

The relationship between leverage, profitability and a firm's ownership structure in China is investigated in this paper. It is an exploratory study based on all firms listed on the Shanghai and Shenzhen stock exchanges from 1999 to 2005. The results of the empirical analysis are reported in...

This study investigates whether ownership structure has a significant effect on the performance of listed firms in China. It also investigates what level of Chinese institutional ownership may be the most advantageous. The results of the empirical analysis of firms listed on the Shanghai and...

The strategic importance of the state owned enterprise (SOE) sector to the Chinese economy cannot be underestimated, thus the success of SOE reform is a significant factor in China's future economic prosperity. The dilemma facing state authorities is to develop market-orientated corporations...

This paper investigates the impact of ownership structure on the productivity performance of Russian industrial enterprises. The analysis compares the effects of several types of new private owners--insiders (managers and other employees) and outsiders (individual and institutional...

Purpose– This paper is a case study of the Republic of Macedonia and focuses on the development of governance and enterprise restructuring. Thus, country's effective corporate governance and corporate control, which impact enterprise restructuring, are essential in the analysis of...

Purpose– The purpose of this paper is examine governance and enterprise restructuring in Southeast Europe (SEE) (Western Balkans) transition economies. International organizations classify the following countries in SEE (Western Balkans): Albania, Bosnia and Herzegovina, Croatia, Macedonia,...

This study surveys the literature examining the privatization of state-owned enterprises(SOEs). We overview the history of privatization, the theoretical and empirical evidence on the relative performance of state owned and privately owned firms, the types of privatization, if and by how much...

In a comprehensive data set of 530 Russian manufacturing firms we observe high and gradually decreasing ownership stakes of firm insiders, i.e. managers and workers. We estimate the determinants of the decision to privatize a firm in the mass privatization program (1992-94) and of the resulting...