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Distance to the Efficiency Frontier and FDI Spillovers

Sabirianova Peter, Klara; Svejnar, Jan; Terrell, Katherine - Institute for the Study of Labor (IZA) - 2004

We establish that domestically owned firms in two alternative models of emerging market economies, the Czech Republic and Russia, have not been converging to the technological frontier set by foreign owned firms. In both countries, the distance of domestic firms to the frontier grew (in all...

Persistent link: https://www.econbiz.de/10005762398

Convergence in Institutions and Market Outcomes: Cross-Country and Time-Series Evidence from the BEEPS Surveys in Transition Economies

Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark - Institute for the Study of Labor (IZA) - 2008

This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed … convergence of transition countries with developed market economies in a number of dimensions. The pattern of growth at the … activity taking place in 2002, the middle of the period analyzed. Throughout, the regional patterns suggest greater convergence …

Persistent link: https://www.econbiz.de/10005822674

Foreign Investment, Corporate Ownership, and Development: Are Firms in Emerging Markets Catching Up to the World Standard?

Sabirianova Peter, Klara; Svejnar, Jan; Terrell, Katherine - Institute for the Study of Labor (IZA) - 2005

advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent …

Persistent link: https://www.econbiz.de/10005703404

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

Tian, Lihui; Estrin, Saul - Institute for the Study of Labor (IZA) - 2005

The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

Persistent link: https://www.econbiz.de/10005822452

Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel

Earle, John S.; Telegdy, Álmos - Institute for the Study of Labor (IZA) - 2001

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor productivity for the entire surviving population of initially state-owned industrial corporations in Romania. The data permit us to describe the post-privatization ownership structure and...

Persistent link: https://www.econbiz.de/10005566810

The Determinants of Foreign Direct Investment Flows to the Federal Region of Kurdistan

Heshmati, Almas; Davis, Rhona - Institute for the Study of Labor (IZA) - 2007

The flow of foreign direct investment (FDI) has increased dramatically in the last two decades. However, the distribution of FDI is highly unequal and the competition among countries to attract foreign investors is fierce. This report investigates the determinants of FDI inflows to developing...

Persistent link: https://www.econbiz.de/10005762073

Banks and Innovation: Microeconometric Evidence on Italian Firms

Benfratello, Luigi; Schiantarelli, Fabio; Sembenelli, … - Institute for the Study of Labor (IZA) - 2006

In this paper we investigate the effect of local banking development on firms’ innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects the probability of process innovation,...

Persistent link: https://www.econbiz.de/10005822124

Investor Protection and the Value of Shares: Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia

Muravyev, Alexander - Institute for the Study of Labor (IZA) - 2009

This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...

Persistent link: https://www.econbiz.de/10008497016

Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms

Smith, Nina; Smith, Valdemar; Verner, Mette - Institute for the Study of Labor (IZA) - 2005

Corporate governance literature argues that board diversity is potentially positively related to firm performance. This study examines the relationship in the case of women in top executive jobs and on boards of directors. We use data for the 2500 largest Danish firms observed during the period...

Persistent link: https://www.econbiz.de/10005703543

How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster

Betzer, André; Doumet, Markus; Rinne, Ulf - Institute for the Study of Labor (IZA) - 2011

This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany’s nuclear reactors while...

Persistent link: https://www.econbiz.de/10009220619