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A comprehensive evaluation framework on the economic performance of state-owned enterprises
Taghizadeh-Hesary, Farhad; Yoshino, Naoyuki; Kim, Chul Ju; … - 2019
State-owned enterprises (SOEs) play a key role in the economy of many countries. They are usually thought to be in charge of increasing social welfare. At the same time, their relatively low performance poses several problems, including slowing down economic growth. This effect is especially...
Persistent link: https://www.econbiz.de/10012007589
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A Comprehensive Evaluation Framework on the Economic Performance of State-Owned Enterprises
Taghizadeh-Hesary, Farhad - 2019
State-owned enterprises (SOEs) play a key role in the economy of many countries. They are usually thought to be in charge of increasing social welfare. At the same time, their relatively low performance poses several problems, including slowing down economic growth, which is especially...
Persistent link: https://www.econbiz.de/10012861128
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Ownership Reform, State Ownership, Corporate Governance, and Agency Costs : The Case of Chinese Listed Companies
Vijayakumaran, Ratnam - 2019
corporate governance mechanisms and agency costs for Chinese listed firms. Based on a large panel of Chinese listed firms, we … effective governance mechanisms to reduce agency costs only for private-controlled firms in the post reform period. Therefore …, our study concludes that the effectiveness of corporate governance mechanisms differ between state and private controlled …
Persistent link: https://www.econbiz.de/10012867655
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Do CEOs make their own luck? : relative versus absolute performance evaluation and firm risk
Wruck, Karen H.; Wu, Yi Lin - 2017 - Current Draft: 10/5/17
Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...
Persistent link: https://www.econbiz.de/10011968863
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Does Governmental Decentralization Accelerate the Accounting Manipulation of State-Owned Enterprises? Evidence from China
Su, Qiaoling - 2019
Pyramidal structures are the common methods to organize enterprises, either private or state-owned around the world. This study considers both political cost and agency cost theory in pyramidal structures constructed by Chinese government mainly for governmental decentralization. Although this...
Persistent link: https://www.econbiz.de/10012867463
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The Unfinished Business of State-Owned Enterprise Reform in the People's Republic of China
Holz, Carsten A. - 2019
arrangement of state ownership has remained elusive. SOE reform is incomplete as long as a number of fundamental governance issues …
Persistent link: https://www.econbiz.de/10012867873
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The unfinished business of state-owned enterprise reform in the People's Republic of China
Holz, Carsten A. - 2019
arrangement of state ownership has remained elusive. SOE reform is incomplete as long as a number of fundamental governance issues …
Persistent link: https://www.econbiz.de/10012026451
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Asymmetric information and bank runs
Gu, Chao (contributor) - 2007
It is known that sunspots can trigger panic-based bank runs and that the optimal banking contract can tolerate panic-based runs. The existing literature assumes that these sunspots are based on a publicly observed extrinsic randomizing device. In this paper, I extend the analysis of panic-based...
Persistent link: https://www.econbiz.de/10003728242
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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 …
Persistent link: https://www.econbiz.de/10014181545
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Pay-Performance Relationship in German State-Owned Enterprises : Evidence and Reflection for Organizational Success Research with Undistorted and 'Right' Data
Papenfuss, Ulf - 2016
Empirical studies show that state-owned enterprises (SOEs) are very important for society. The compensation of executive directors is crucial in the debate on effective, efficient and sustainable public service provision. Nevertheless, there are very few empirical studies in the international...
Persistent link: https://www.econbiz.de/10012999165