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State Ownership and Control in the Czech Republic

Kočenda, Evžen - 2009

We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate pyramid. While pyramidal control was not fully...

Persistent link: https://www.econbiz.de/10013155937

Political Connections, State Ownership and Productivity in China

Harris, Richard I. D. - 2017

Subordination of business to political influence has remains pervasive in China. We construct a Schumpeterian …, and total factor productivity (TFP) using firm-level data for China between 1998 and 2007. We find, consistent with the …

Persistent link: https://www.econbiz.de/10012964690

Revisiting the OLI Paradigm : The Institutions, the State, and China's OFDI

Liang, Hao - 2011

potential concerns on China's state-backed OFDI and its implication on long-term sustainability …

Persistent link: https://www.econbiz.de/10013118166

Time-Varying Exchange Rate Basket in China from 2005 to 2009

Fidrmuc, Jarko - 2013

We use the Kalman filter to estimate the structure of the secret currency basket of the renminbi based on daily data between 2005 and 2009. The currency weights of selected currencies are modeled as stochastic processes (random walks). The official announcement of the new exchange rate regime in...

Persistent link: https://www.econbiz.de/10013094429

A Simple Explanation for the Unfavorable Tax Treatment of Investment Costs

Panteghini, Paolo - 2006

The evidence shows that in most countries the present value of depreciation allowances is less than 100% of the cost of capital. In this article we use a real-option model with debt financing, and show that less favorable depreciation allowances are offset by tax benefits arising from debt...

Persistent link: https://www.econbiz.de/10012779345

Investor Protection and Foreign Stakeholders

Giofré, Maela - CESifo - 2010

Different investor classes are endowed with different rights, and conflicting interests among them can make protections afforded to one party detrimental to another. Indeed, we find that investor protection laws have sizeable "cross" effects on foreign portfolio investment and the direction of...

Persistent link: https://www.econbiz.de/10008572590

Investor Protection and Foreign Stakeholders

Giofré, Maela - 2014

Persistent link: https://www.econbiz.de/10013069664

What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies

Ayala, Diana - 2017

This paper studies the determinants of shifts in debt composition among emerging market non-financial corporates. We show that the determinants of bond market access in EMs vary with global cyclical conditions and across local and foreign currency markets. We find that the role for institutions...

Persistent link: https://www.econbiz.de/10012960099

Bait and Switch : How Do Chinese Firms Use Proceeds from Seasoned Equity Offerings

Bo, Hong - 2015

We reveal motivations of Chinese firms for issuing Seasoned Equity Offerings (SEO) by examining why firms change the use of SEO proceeds and how they use unspecified SEO proceeds. Using 533 SEOs issued by Chinese firms during 1999-2006, we find that firms do not use unspecified SEO proceeds on...

Persistent link: https://www.econbiz.de/10013028525

The Renminbi Central Parity : An Empirical Investigation

Cheung, Yin-Wong - 2016

On August 11 2015, China revamped its procedure of setting the official central parity of the renminbi (RMB) against … the US dollar. Our empirical investigation shows that the intertemporal dynamics of China's central parity are not the … for the RMB exchange rate against the currency basket revealed by China in December 2015 in the fixing process …

Persistent link: https://www.econbiz.de/10012986235