Ownership Structure and the Temptation to Loot
Author: Robert J. Cull
Publisher: World Bank Publications
Published: 2001
Total Pages: 44
ISBN-13: 2905305398
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From Users to Custodians
Author: Liz Wily
Publisher: World Bank Publications
Published: 2001
Total Pages: 40
ISBN-13:
DOWNLOAD EBOOKIn the face of scarce public resources and the burgeoning demand from the growing population for agricultural land and woodland products, Tanzania has increasingly recognized the need to bring individuals, local groups, and communities into the policy, planning, and management process if woodlands are to remain productive in the coming decades.
Asymmetries in Union Relative Wage Effects in Ghanaian Manufacturing
Author: Dorte Verner
Publisher: World Bank Publications
Published: 2001
Total Pages: 40
ISBN-13: 4040532376
DOWNLOAD EBOOKUnder New Ownership
Author: Shahid Yusuf
Publisher: World Bank Publications
Published: 2006
Total Pages: 300
ISBN-13: 0821356259
DOWNLOAD EBOOKAlthough China's centrally planned economy is a little more than a shadow of its former self, the closely inter-linked reforms of the enterprise and banking sectors are still incomplete. The relative size of the state-owned enterprise sector has been much reduced, however, the sector remains the dominant borrower from the banking system and is responsible for the majority of bank non-performing assets. Thus in the interests of financial stability it is crucial to implement the remaining reform agenda. The accession to the WTO has also made it more urgent for China's most-dynamic state-owned en.
The Financial Economics of Privatization
Author: William L. Megginson
Publisher: Oxford University Press
Published: 2005-01-13
Total Pages: 533
ISBN-13: 0198034318
DOWNLOAD EBOOKSince 1981, over 100 governments around the world have raised over $1 trillion through the sale of SOEs to private investors. Privatization programs have transformed the role of the state in virtually all-major economies, and have massively increased the capitalization and liquidity of all non-U.S. stock markets. The focus of this book lies on where privatization stands today and what are the next frontiers, the why and how behind countries who privatize certain industries, whether privatization works as an economic tool and important insights relevant to financial institutions such as how to value privatized industries, how share offerings differ from private offerings, and how countries go about harnessing private capital. The book will also represent a key and unique source for information related to the details of asset sales privatization, a summary of statistics of privatized companies from 54 international stock exchanges, regulatory changes and sources for privatization information for investors, government officials, bankers and financial specialists. The volume will serve as an invaluable reference for professionals and as a core or supplementary text in privatization courses.
Ownership and Governance of Enterprises
Author: Laixiang Sun
Publisher: Springer
Published: 2003-10-16
Total Pages: 275
ISBN-13: 1403943907
DOWNLOAD EBOOKConventional wisdom recommends the superiority of private ownership of enterprises. The reality confronts it with a rich diversity in ownership and governance structures. This volume examines five types of unorthodox ownership and governance form emerging in the industrial sector across major economies. It analyzes two cases to demonstrate that there are alternative ways to harden budget constraints of state-owned enterprises. It investigates the driving forces behind these evolving dynamics and explores policy implications for developing and transition economies.
Ownership Structure and the Temptation to Loot
Author: Robert Cull
Publisher:
Published: 2016
Total Pages: 39
ISBN-13:
DOWNLOAD EBOOKEvidence from the Czech Republic shows that financial incentives and regulation are as important as ownership structure in the design of privatization.Using a new data set on privatized firms in the Czech Republic, Cull, Matesova, and Shirley examine how the design of privatization affects outcomes.Earlier studies of privatization in the Czech Republic focused largely on how the broad distribution of shares through vouchers may have motivated the new owners to strip assets from privatized firms.The authors find evidence for static asset stripping, but also for what Akerlof and Romer (1993) call looting - borrowing heavily with no intent to repay and using the loans for private purposes. This looting occurred because the larger privatized companies had privileged access to credit from state-controlled banks, which had little incentive to enforce debt contracts.The policy implications are significant: financial incentives and regulation are as important as ownership structure in the design of privatization.This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to understand the role of financial reform in economic development. The authors may be contacted at [email protected], [email protected], or [email protected].
The Impact of Globalization on International Finance and Accounting
Author: David Procházka
Publisher: Springer
Published: 2017-12-29
Total Pages: 469
ISBN-13: 331968762X
DOWNLOAD EBOOKThis proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting.
Annual World Bank Conference on Development Economics Regional 2007
Author: François Bourguignon
Publisher: World Bank Publications
Published: 2007-01-01
Total Pages: 386
ISBN-13: 0821368443
DOWNLOAD EBOOKGlobal Development Finance (GDF), is the World Bank's annual review of recent trends in and prospects for financial flows to developing countries. It is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. Vol I: Analysis and Outlook reviews recent trends in financial flows to developing countries. Also available as a two volume set, Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups.
Privatisation and Structural Change in Transition Economies
Author: Yelena Kalyuzhnova
Publisher: Springer
Published: 2003-09-08
Total Pages: 272
ISBN-13: 0230378331
DOWNLOAD EBOOKPrivatisation and Structural Change in Transition Economies brings together specialists from different areas (governance, regulation, macro-econometrics, micro-econometrics, enterprise culture, foreign direct investment, technology transfer) to focus on the many different aspects of the privatization process in transition economies. The book does not dwell on the administrative or procedural aspects of privatisation. Instead it attempts to understand the bigger picture in terms of underlying policy environment and supporting legal and economic measures which helped to a large extent to determine the eventual success or failure of privatization programmes.
