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In many countries, infrastructure liberalization progressed faster than the privatization of former state monopolies …
Persistent link: https://www.econbiz.de/10014086395
-controlling or "residual" state ownership framework, grounded in credible privatization and institutional theory. We propose that: 1 … signals state support for managerial initiatives; 2) the passage of time since initial privatization negatively affects … turn negative at higher state ownership levels. CARs turn sharply negative within 1-2 years from initial privatization …
Persistent link: https://www.econbiz.de/10014047034
Persistent link: https://www.econbiz.de/10011450027
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
Persistent link: https://www.econbiz.de/10003850965
State-owned and other state-invested enterprises (SIEs) have become more prominent in the global economy over the last decade. A growing role for state-invested enterprises in the marketplace is not in itself onerous. According to an OECD consensus, as expressed through the Organisation’s...
Persistent link: https://www.econbiz.de/10010382770
, privatization. In this article, we evaluate the governance challenges associated with mixed ownership of enterprise, and examine a …
Persistent link: https://www.econbiz.de/10012960000
In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of patents per dollar spending of R&D expenditure. The data indicate that minority SOEs are substantially more innovatively efficient than nonSOEs and majority SOEs. The relative...
Persistent link: https://www.econbiz.de/10012835354
Does state ownership hinder or help firms access credit? We use data on almost 4 million firms in 89 countries to study the relationship between state ownership and corporate leverage. Controlling for country-sector-year fixed effects and conventional firm-level determinants of leverage, we show...
Persistent link: https://www.econbiz.de/10013289156
Does state ownership hinder or help firms access credit? We use data on almost 4 million firms in 89 countries to study the relationship between state ownership and corporate leverage. Controlling for country-sector-year fixed effects and conventional firm-level determinants of leverage, we show...
Persistent link: https://www.econbiz.de/10013289285