Similar Search Results

Investment and capital structure of partially private regulated firms

Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011

We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …

Persistent link: https://www.econbiz.de/10009209829

Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?

Estrin, Saul; Tian, Lihui - C.E.P.R. Discussion Papers - 2005

The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized …

Persistent link: https://www.econbiz.de/10005656424

Growing like China

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2009

This paper constructs a growth model that is consistent with salient features of the Chinese growth experience since 1992: high output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign...

Persistent link: https://www.econbiz.de/10005123794

Informal or Formal Financing? Or Both? First Evidence on the Co-Funding of Chinese Firms

Degryse, Hans; Lu, Liping; Ongena, Steven - C.E.P.R. Discussion Papers - 2013

The recent financial crisis has reopened the debate on the impact of informal and formal finance on firm growth in developing countries. Using unique survey data, we find that informal finance is associated with higher sales growth for small firms and lower sales growth for large firms. We...

Persistent link: https://www.econbiz.de/10011084516

Capital Structure and Regulation: Do Ownership and Regulatory Independence Matter?

Bortolotti, Bernardo; Cambini, Carlo; Rondi, Laura; … - C.E.P.R. Discussion Papers - 2008

We construct a comprehensive panel data of 92 publicly traded European utilities over the period 1994-2005 in order to study the relationship between capital structure, regulated prices, and firm value, and examine if and how this interaction is affected by ownership structure and regulatory...

Persistent link: https://www.econbiz.de/10005497873

Large Shareholders, Private Benefits of Control and Optimal Schemes for Privatization

Cornelli, Francesca; Li, David Daokui - C.E.P.R. Discussion Papers - 1994

We analyze optimal schemes for privatization in a transitional economy. In many cases, established Western firms are good candidates for large shareholders of a local firm, since the sale of the shares can generate large amount of revenues and furthermore, in the future, the home country can...

Persistent link: https://www.econbiz.de/10005504361

Do Retail Incentives Work in Privatizations?

Keloharju, Matti; Knüpfer, Samuli; Torstila, Sami - C.E.P.R. Discussion Papers - 2004

20 countries around the world have used incentive packages, including bonus shares and discounts, to attract retail investors to participate in privatizations. Using a unique dataset, we estimate the total cost of incentive packages at approximately $27 billion. The expiration of bonus share...

Persistent link: https://www.econbiz.de/10005656346

From Federalism, Chinese Style, to Privatization, Chinese Style

Yuanzheng, Cao; Qian, Yingyi; Weingast, Barry - C.E.P.R. Discussion Papers - 1998

In 1994, China began a profound reform of its state-owned enterprises (SOE). We first describe and characterize this …

Persistent link: https://www.econbiz.de/10005792177

Trade Strategy, Investment and Exports: Another Look at East Asia

Rodrik, Dani - C.E.P.R. Discussion Papers - 1995

in investment. This paper offers an argument and a formal model to suggest that exports in East Asia may have been driven … by an increase in the profitability of investment, with outward orientation a consequence of the investment boom rather … than its instigator. In economies like South Korea and Taiwan, an increase in investment required an increase in imports of …

Persistent link: https://www.econbiz.de/10005661548

Rebalancing Growth in China: A Three-Handed Approach

Blanchard, Olivier J; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2006

Our paper is an attempt to define the contours of the right macroeconomic strategy for China. In a nutshell, we believe …

Persistent link: https://www.econbiz.de/10005114183