We examine the effect of elite connections on CEO pay and turnover decisions, using a large sample of Chinese listed firms. Our findings show that CEOs of private listed firms benefit from significantly higher salaries (a 25% increase), consistent with the resource dependence theory, whereas the...

This paper examines the effect of executive board gender diversity on the relationship between economic policy uncertainty (EPU) and bank liquidity hoarding (LH). We focus on the Russian banking sector, which, relative to most of the world, has a high share of women on bank executive boards....

Along with state shareholding and government administration, the third source of political control of Chinese listed firms is the Chinese Communist Party (CCP). Using a unique hand-collected dataset that includes party secretary information for listed firms between 2000 and 2004, we examine the...

The paper describes dynamics of ownership concentration in Russian manufacturing, and factors of the dynamics against the background of economic growth of 2000s. The first signs of stock ownership de-concentration in some companies during 2005–2009 were revealed. Empirical analysis of...

A 2006 survey of 28,000 individuals in 28 post-communist countries reveals overwhelming support for revising privatization, but most respondents prefer to leave firms in private hands. We examine who wants to revise privatization and why. Respondents with poor human capital and few assets...

The economy of Punjab state in India offers an interesting case study. Punjab has been for decades - and remains - one of India's better-off states, and so it tends not be included in the primary focus of national programs meant to reduce poverty or spur economic development. But, Punjab's...