Using a novel empirical approach and newly available administrative data on U.S. tax filings, we estimate the corporate elasticity of taxable income, decompose the elasticity into economic responses versus other tax-motivated “accounting” transactions, and determine how responsiveness varies...

Research in management and related fields largely assumes that host-country state (state) ownership in investment projects raises risk for private co-investors. We question that assumption in theorizing that minority state ownership may actually decrease investment risk in host countries where...

The Great Depression spurred state ownership in Western capitalist countries. Germany was no exception; the last governments in the Weimar Republic took over firms in diverse sectors. Later, the Nazi regime transferred public ownership and public services to the private sector. In doing so, they...

Any physicist and even any schoolchild knows that a body in motion finds in itself, by frictions which it generates, the proper limits of its movement, and the phenomenon of the privatization of public companies in West Africa today does not escape this logic. During the last decades, the...

We examine the real effect of partial privatization on corporate innovation. To establish causality, we explore plausibly exogenous variation in the expectation of further partial privatization generated by China’s split share structure reform, which mandatorily converts non-tradable shares...

This study examines how the ownership structure of corporations shapes their responses to technological change. We predict that mixed ownership, a situation in which, following privatization, the shares of a company are partly privately held and partly held by the government, is associated with...

The persistence of economic crisis in several developing countries has led to the reconsideration of the role of the State that came along with a privatization wave, which was characterized by the dismantling of local monopoly. For many governments, the privatization of SOEs is considered an...

Since 1978, the effects of China's state-owned enterprise reform have received extensive attention, but the causal relationship between reform measures and profitability has rarely been verified. This study investigates the impact of China's ongoing mixed-ownership reform on state-owned...

Do employment protection laws hinder privatization? Using privatization deals in fourteen European countries from 1977-2003 and within-country variation in employment protection laws, we find that stringent employment protection laws significantly deter privatization. The fear of job cuts...

While past decades were characterized by economic liberalization and deregulation, there re-mains an enduring presence of political influence over the private economy. Such influence can either benefit (e.g. government support addressed at survival and growth prospects) or harm (e.g. reduced...