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Government as Rescue Financier : Not Just a Private Lender

Heimowitz, Marc - 2017

In recent years, U.S. government entities have become increasingly active as commercial participants in corporate restructurings by providing rescue loans when private market funding is unavailable. Like private lenders, the government can effectively control the operations of distressed...

Persistent link: https://www.econbiz.de/10012963450

A Legacy of Cronyism and Deception

Savvides, Savvakis C. - 2018

If there is one single pattern emerging from the six years or so of the rule of Anastasiades as President of Cyprus it …

Persistent link: https://www.econbiz.de/10012907932

Accessing Private Markets Globally : Contracts and Costs

Lim, Wayne - 2022

This paper examines contracts and the costs of accessing private markets globally. Contract terms vary by fund region and type. European funds charge lower fees than US funds, but evidence linking regulation to fee compression is weak. Investors’ costs are estimated to be 5% to 26% of...

Persistent link: https://www.econbiz.de/10014255326

Capital Market Distortions in Vietnam : Comparing SOEs and Private Firms

Zhou, Fujin - 2018

Financial constraints are expected to be severe in Vietnam, especially for private firms, but there is limited quantitative evidence for the size of financial constraints experienced by SOEs and private firms and the resulting efficiency losses. This paper investigates the size of the capital...

Persistent link: https://www.econbiz.de/10012931151

The Impact of Privatization on State-Owned Enterprises Performance and Efficiency : Case Study of Sudan Airways

Mohamed, Issam A.W. - 2011

The current paper analyzes the impacts of privatization of Sudan air carrier, Sudan Airways. The hypothetical framework … in this study is that alternative policies other than privatization are feasible. Sudan airways represents the …. Experience shows that privatization needs large amount of capital plus qualified managerial, technical, financial and marketing …

Persistent link: https://www.econbiz.de/10013130174

Private Ownership and the Cost of Public Debt : Evidence from the Bond Market

Badertscher, Brad A. - 2017

A number of studies have examined the effect of public and private ownership on the cost of debt and conclude that the cost of debt of privately owned firms is higher, driven mainly by the poorer information environment in which these firms operate. We extend this strand of research in two ways....

Persistent link: https://www.econbiz.de/10012972269

Heterogeneous Beliefs and the Choice between Private Restructuring and Formal Bankruptcy

Francois, Pascal - 2016

We present a theory for the puzzling issue regarding why certain firms in financial distress, prefer a costlier formal bankruptcy procedure over direct renegotiations. We show that claimholders' heterogeneous beliefs about the results of a formal plan and about judicial discretion may lead to...

Persistent link: https://www.econbiz.de/10013006964

Private Ownership and the Cost of Public Debt : Evidence from the Bond Market

Badertscher, Brad A. - 2017

Persistent link: https://www.econbiz.de/10012950719

Russia’s Public Sector and Privatization Policy in 2018

Malginov, Georgy - 2019

government privatization programs (from 2011 – for three-year period, and prior to 2011 – for one-year period). In the current … Forecast Plan (Program) of Federal Property Privatization and the Main Directions of Federal Property Privatization for 2017 …

Persistent link: https://www.econbiz.de/10012863466

The Rise of a Network : Spillover of Political Patronage and Cronyism to the Private Sector

Moon, Terry - 2019

The misallocation of government resources to the politically connected is considered to impose substantial economic costs. We document that resource misallocation to the politically connected extends to resources allocated by private sector firms. Following the presidential election in 2007,...

Persistent link: https://www.econbiz.de/10012897746