Three Essays On Privatization And Corporate Governance
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Three Essays On Privatization And Corporate Governance
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Author : Wanrapee Banchuenvijit
language : en
Publisher:
Release Date : 2006
Three Essays On Privatization And Corporate Governance written by Wanrapee Banchuenvijit and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This dissertation seeks not only to extend the existing privatization literature but also to provide the association between privatization and corporate governance literatures. It is divided into three essays. The first essay examines changes in the financial and operating performance of 103 firms worldwide that were partially or fully privatized through public share offerings during 1993-2003. The empirical results from the Wilcoxon and proportion tests show increases in profitability, operating efficiency, capital spending, output, and dividend payments as well as decreases in leverage and total employment. A combined result of this essay and the three previous and comparable papers indicates that, for the whole period from 1961 to 2003, privatization helps improve firm performance in a wide variety of countries, industries, and competitive environments. The second essay investigates the impact of macro corporate governance mechanisms (anti-director rights index, enforcement index, and corporate disclosure index) on the subsequent performance of 103 privatized firms around the world during 1993-2003. After controlling for endogeneity, the empirical results exhibit that macro governance mechanisms are important determinants of firm performance following privatization in both developed and developing countries. Finally, the third essay studies how internal control mechanisms (board size, board composition, CEO duality, and financial expertise of boards) affect the subsequent performance of 103 privatized firms around the world during 1993-2003. After controlling for endogeneity, the empirical results demonstrate that internal governance mechanisms (with the concentration on the role of board of directors) are important determinants of firm performance following privatization in only developing countries.
Three Essays On Financial Markets
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Author : Andrey G. Zagorchev
language : en
Publisher:
Release Date : 2010
Three Essays On Financial Markets written by Andrey G. Zagorchev and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The third essay examines the impact of government ownership and financial markets on corporate governance using 1327 firms from fourteen EU countries in the period 2003 to 2008. The results show that aggregate government ownership measured through privatization and financial markets lead to improvements in the corporate governance practices of firms.
Three Essays On The Political Economy Of Corporate Governance
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Author : Natalia Zharinova
language : en
Publisher:
Release Date : 2007
Three Essays On The Political Economy Of Corporate Governance written by Natalia Zharinova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Empirical studies in international corporate governance consistently find that in countries with poorer investor protections controlling shareholders are more common and financial markets are less developed. A number of explanations for this correlation have been suggested, most notably, the effects of the legal origin and country's institutions (La Porta et al., 1998) and the role of politics and ideology (Roe 2003). The main shortcoming of the existing literature is that either the investor protection level or the degree of ownership concentration are assumed to be exogenous. In contrast, this dissertation explores how higher levels of outside ownership, better protection of outside investors, and more developed financial markets arise simultaneously and endogenously in a political lobbying equilibrium.
Three Essays On The Economics Of Governance
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Author : Cong Minh Trinh
language : en
Publisher:
Release Date : 1996
Three Essays On The Economics Of Governance written by Cong Minh Trinh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Corporations categories.
Three Essays In Corporate Governance
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Author : Valentina Giulia Bruno
language : en
Publisher:
Release Date : 2006
Three Essays In Corporate Governance written by Valentina Giulia Bruno and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Privatization Corporate Governance And The Emergence Of Markets
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Author : E. Rosenbaum
language : en
Publisher: Springer
Release Date : 2000-03-23
Privatization Corporate Governance And The Emergence Of Markets written by E. Rosenbaum and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-03-23 with Business & Economics categories.
The volume focuses on privatisation in transition countries, addressing issues ranging from corporate governance to the relationship between privatisation and the emergence of markets, from a multi-disciplinary perspective. The contributors investigate both the theoretical groundwork of privatisation and enterprise restructuring as well as recent empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets.
Three Essays On Corporate Governance
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Author : Michael John Fleming
language : en
Publisher:
Release Date : 1994
Three Essays On Corporate Governance written by Michael John Fleming and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Consolidation and merger of corporations categories.
Shifting Balances Of Power And New Forms Of Corporate Control
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Author : Anselm Jakob Schneider
language : en
Publisher:
Release Date : 2013
Shifting Balances Of Power And New Forms Of Corporate Control written by Anselm Jakob Schneider and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Three Essays On Corporate Governance
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Author : Aazam Virani
language : en
Publisher:
Release Date : 2014
Three Essays On Corporate Governance written by Aazam Virani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Three Essays In Regime Changes In Corporate Governance And Competition
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Author : Christos Cabolis
language : en
Publisher:
Release Date : 2004
Three Essays In Regime Changes In Corporate Governance And Competition written by Christos Cabolis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.