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The effects of privatization and corporate governance of soes in transition economy : the case of Kazakhstan

Lee, Keun Jung - 2020

privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …

Persistent link: https://www.econbiz.de/10012212672

Liquidity Benefits from IPO Underpricing : Ownership Dispersion or Information Effect

Bouzouita, Nesrine; Gajewski, Jean-François; Gresse, Carole - Université Paris-Dauphine (Paris IX) - 2012

Our study investigates by which channels IPO underpricing impacts post-listing liquidity. Using a sample of IPOs …

Persistent link: https://www.econbiz.de/10011162144

The perils of small-minority controllers

Bebchuk, Lucian A.; Kastiel, Kobi - 2018 - Last revised: December 2018

This Article contributes to the long-standing and heated debate over dual-class companies by placing a spotlight on a significant set of dual-class companies whose structures raise especially severe governance concerns: those with controllers holding a small minority of the company's equity...

Persistent link: https://www.econbiz.de/10011972992

Who is afraid of political risk? : multinational firms and their choice of capital structure

Kesternich, Iris; Schnitzer, Monika - 2007

This paper investigates how multinational firms choose their capital structure in response to political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different types of political risk, like expropriation, corruption...

Persistent link: https://www.econbiz.de/10010366517

Raising capital amid economic policy uncertainty : an empirical investigation

Ashraf, Dawood; Khawaja, Mohsin; Bhatti, Muhammad Ishaq - In: Financial innovation : FIN 8 (2022), pp. 1-32

This paper investigates how economic policy uncertainty affects firms' frequency and their choice of financial instruments to raise capital. By applying a three-step sequential framework over a sample of 6834 publicly listed US non-financial firms, we find that during periods of high economic...

Persistent link: https://www.econbiz.de/10013368393

Ownership structure and company performance : research and literature review

Varcholova, Tatiana; Beslerova, Stela - In: E-Finanse : finansowy kwartalnik internetowy 9 (2013) 2, pp. 24-33

The aim of this article is to summarize the results of published researches conducted in the area of influence of ownership forms on companies and financial performance and to highlight the specifics of these relations in the environment of transition economies. Several authors have documented...

Persistent link: https://www.econbiz.de/10010226686

Postprivatization corporate governance : the role of ownership structure and investor protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...

Persistent link: https://www.econbiz.de/10011591071

Ownership structure and firm performance: Evidence from the Chinese corporate reform

Kang, Young-Sam; Kim, Byung-Yeon - In: China Economic Review 23 (2012) 2, pp. 471-481

state-owned enterprises outperform firms controlled by the government, indicating that partial privatization of state …

Persistent link: https://www.econbiz.de/10010875335

The stock market reaction to the 2005 non-tradable share reform in China

Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2011

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...

Persistent link: https://www.econbiz.de/10011605385

Privatization and productivity in Romanian industry : evidence from a comprehensive enterprise panel

Earle, John S.; Telegdy, Álmos - 2001

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller …

Persistent link: https://www.econbiz.de/10001610643