Despite the opening of the market and partly privatisation of state-owned companies in China, the state still represents the controlling shareholder in larger companies. By analysing the weaknesses of Chinese corporate governance we illustrate the framework for harmful corruption. China is...

Studies of public-private and foreign-domestic wage differentials face difficulties distinguishing ownership effects from correlated characteristics of workers and firms. This paper estimates these ownership differentials using linked employer-employee data (LEED) from Hungary containing 1.35mln...

During the 1990s, ownership of China's listed firms remained stable: state entities remained in control of restructured state-owned enterprises since only a minority of shares were allowed to trade publicly and to be owned privately. However, since 1999 the ownership of China's listed firms has...

In transition economies, banks do not yet play a crucial role in financing investment. We explain the low degree of bank intermediation by investigating credit offers by monopolistic, oligopolistic, and competitive banks with a particular focus on collateral. The more market power that banks...

We investigate how bank competition affects the efficiency of credit allocation, using a model of spatial competition. Our analysis shows that bad loans are more likely the larger the number of banks competing for customers. We study further how many banks will be active if market entry is not...

We provide new estimates of the productivity impact of privatization in Ukraine using long panel data on all initially state-owned manufacturing firms. The large size and length of the data permit us to track the privatization process, to estimate impacts within industry-year cells and with...

This paper estimates the relative multi-factor productivity (MFP) of privatized and state-owned enterprises using a long panel on all initially state-owned manufacturing firms in Ukraine. The large size and length of the time series in the data permit us to track the privatization process and to...

Vietnamese Abstract: Trong nhiều tháng qua, vấn đề khủng hoảng tại Tập đoàn Công nghiệp Tàu thủy Việt Nam (Vinashin) liên tục là tâm điểm của các hệ thống truyền thông, giới nghiên cứu chính sách, cộng đồng kinh doanh và đông đảo...

This paper estimates the effect of domestic and foreign privatization on multifactor productivity (MFP) using long panel data for nearly the universe of initially state-owned manufacturing firms in Ukraine. The longitudinal dimension of the data is used to measure and control for...

Timeliness of financial reporting is an attribute of good corporate governance. Shareholders and other stakeholders need information while it is still fresh and the more time that passes between year-end and disclosure, the more stale the information becomes and the less value it has. Corporate...