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Taking China Private : The Carlyle Group, Leveraged Buyouts and Financial Capitalism in Greater China

Cumming, Douglas J. - 2014

This paper analyses the introduction of leveraged buyouts in China and Taiwan. It focuses on how leveraged buyout firms (foreign financial intermediaries) operate in institutional environments where the state and family blockholder groups are important owners and stakeholders in the private...

Persistent link: https://www.econbiz.de/10013048432

Inefficient Tailoring : The Private Ordering Paradox in Corporate Law

Barzuza, Michal - 2018

The conventional wisdom in corporate law posits that private ordering has an important virtue: it allows firms to efficiently tailor governance terms to their particular needs. This virtue is routinely advanced to justify the largely “enabling” structure of U.S. corporate law, and to oppose...

Persistent link: https://www.econbiz.de/10012934497

Does Increased Visibility to the IRS Cause Public Firms to Go Private? Evidence from FIN 48

Yost, Benjamin - 2021

This study investigates whether the introduction of a mandatory disclosure requirement (FIN 48), which had the effect of increasing public firms’ visibility to the tax authority, incentivized going-private transactions. Building on analytical work suggesting that disclosures required under FIN...

Persistent link: https://www.econbiz.de/10013233324

Accountability and Transparency as Learning Processes in Private, Public and Global Governance

Apreda, Rodolfo - 2015

This paper argues that accountability in organizations should not be constrained to responsibilities alone, but it must also comprise the previous commitments without which responsibilities remain meaningless. It also asserts that transparency should not be merely predicated upon the production...

Persistent link: https://www.econbiz.de/10013032287

Boosting firm dynamism and performance in China

Molnár, Margit - 2017

With persisting slower growth worldwide and in China, over-capacity in some heavy industry sectors, declining profitability, and intensifying competition from other, lower-cost emerging economies, corporate behaviour in China needs to change and focus more on efficiency and sustainability. This...

Persistent link: https://www.econbiz.de/10011732705

Mixed Ownership Reform and Corporate Governance in China’s State-Owned Enterprises

Wang, Jiangyu - 2020

This Article provides an early assessment of the impact on corporate governance of the most recent wave of SOE reform announced by the CCP in 2013, officially known as the mixed-ownership reform (MOR). It offers a comprehensive and detailed account of the background, policy and regulatory...

Persistent link: https://www.econbiz.de/10012847112

The Corporate Governance Framework & its Application to Privatizations of Public Enterprises

Kenourgios, Dimitris; Samitas, Aristeidis; … - 2011

This paper is an attempt to evaluate the application of Corporate Governance framework issue within Public domain. It is an attempt to quantify the compliance of Greek companies with international best practices

Persistent link: https://www.econbiz.de/10014181545

Employee Ownership and Corporate Governance in Post-Privatization Russia

Kryvoi, Yarik - 2010

-scale privatization in Russia. The analysis shows that although employee buyouts have helped to reduce unemployment and prevent major …

Persistent link: https://www.econbiz.de/10014221198

State Ownership, Soft-Budget Constraints, and Cash Holdings : Evidence from China's Privatized Firms

Megginson, William L. - 2015

We study the relation between state ownership and cash holdings in China's share-issue privatized firms from 2000 to 2012. We find that the level of cash holdings increases as state ownership declines. For the average firm in our sample, a 10 percentage-point decline in state ownership leads to...

Persistent link: https://www.econbiz.de/10013031410

Credible Reforms and Stock Return Volatility : Evidence from Privatization

Cosset, Jean-Claude - 2017

In this paper we investigate how privatization affects stock return volatility. We show that privatization is related … to volatility via political risk. In particular, a privatization program that is maintained over time signals credibility …, which reduces political risk and in turn volatility. We further show that privatization is associated with lower …

Persistent link: https://www.econbiz.de/10012971570