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  1. Foreign ownership and performance
    evidence from a panel of Italian firms
    Author: Bentivogli, Chiara; Mirenda, Litterio
    Published: [2016]
    Publisher:  Banca d'Italia Eurosistema, [Rom]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Temi di discussione / Banca d'Italia ; number 1085 (October 2016)
    Subjects: multinational enterprise; ownership; foreign direct investment; firm performance
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  2. What Are Authoritative Scriptures?
    Author: Punt, J.
    Published: [2019]

    The understanding of scriptures has shifted away from static and stable repositories of word, to emphasise scriptures' dynamic, active and relational qualities. Neither are authoritative ascriptions denied nor comparative work excluded, but in both... more

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    The understanding of scriptures has shifted away from static and stable repositories of word, to emphasise scriptures' dynamic, active and relational qualities. Neither are authoritative ascriptions denied nor comparative work excluded, but in both cases different perceptions are now at work, rendering different results than in the past.

     
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    Source: Union catalogues
    Language: English
    Media type: Article (journal)
    Format: Online
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    Parent title: Enthalten in: Religion & theology; Leiden : Brill, 1994; 26(2019), 1/2, Seite 52-71; Online-Ressource

    Subjects: Bible; Hebrew Bible; Qur'ān; authority; hermeneutics; ownership; power; scriptures
  3. Optimal ownership and firm performance
    an analysis of China's FDI liberalization
    Author: Eppinger, Peter S.; Ma, Hong
    Published: July 2023
    Publisher:  CESifo, Munich, Germany

    Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification... more

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    Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within multinational firms, by exploiting a major liberalization of China's policy restrictions on foreign ownership. The liberalization allowed previously restricted firms to become fully foreign owned. We find that these reoptimized ownership choices raise firm output by 40% and productivity by 7.5% on average. An extended property-rights theory of the multinational firm rationalizes these effects and their heterogeneity.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    hdl: 10419/279301
    Series: CESifo working papers ; 10551 (2023)
    Subjects: multinational firms; ownership; integration; firm performance; property-rights theory; China
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  4. Does economic freedom moderate perceived corruption for firms in India?
    Author: Dutta, Nabamita; Kar, Saibal; Stivers, Adam
    Published: September 2023
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Available wisdom suggests that a negative relationship prevails between economic freedom and perceived corruption among firms. However, the relationship is far from linear and a number of complex interactions make it fairly nuanced. We show that... more

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    Available wisdom suggests that a negative relationship prevails between economic freedom and perceived corruption among firms. However, the relationship is far from linear and a number of complex interactions make it fairly nuanced. We show that greater competition may accentuate the problem of corruption. This is contrary to the general observation that regulations create conditions for corrupt practices. This study uses a broad-based survey for India to examine the role of economic freedom in influencing perceived corruption. The firm-level data helps to explore the relationship between economic freedom across Indian states and the perceived corruption in the formal sector. A statistically significant negative relationship as we obtain implies a fall in perceived corruption as a function of rise in contemporaneous and lagged economic freedom. These results hold when we design matching models and add a number of covariates with potentially opposite impact overall. The empirical structure clearly highlights the process of identification and shows that small and young firms and those with sole ownership perceive greater benefits from higher economic freedom. However as claimed above, older firms perceive higher corruption when economic freedom is higher. This lends support to the idea that competition facilitated by economic freedom can increase rent seeking behavior. Our study contributes to the literature by emphasizing that the relationship between economic freedom and corruption in India is layered, with firm characteristics playing a crucial role.

     
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    Media type: Book
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    hdl: 10419/282611
    Series: Discussion paper series / IZA ; no. 16484
    Subjects: perceived corruption; economic freedom; firm size; ownership; India
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  5. Managing ownership by management
    Author: Franks, Julian R.; Mayer, Colin P.; Miyajima, Hideaki; Ogawa, Ryo
    Published: [2023]
    Publisher:  RIETI, [Tokyo, Japan]

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    Language: English
    Media type: Book
    Format: Online
    Series: RIETI discussion paper series ; 23-E, 022 (March 2023)
    Subjects: Internal market for corporate control; ownership; value creation; institutional investors
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  6. Housing prices and rents in Australia 1980-2023
    facts, explanations and outcomes
    Author: Abelson, Peter; Joyeux, Roselyne
    Published: 2023
    Publisher:  Australian National University, Canberra

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: TTPI - working papers ; 2023, 14 (September 2023)
    Subjects: Housing; house prices; housing rents; ownership; affordability
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  7. Information transmission and ownership consolidation in aid programs
    Author: Dreher, Axel; Marchesi, Silvia
    Published: 2013
    Publisher:  Centro Studi Luca d'Agliano, [Milano]

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    Language: English
    Media type: Book
    Format: Online
    Series: Development studies working papers / Centro Studi Luca d'Agliano ; 356
    Subjects: Delegation; communication; ownership; foreign aid
    Scope: Online-Ressource (36 S.), graph. Darst.
  8. The effect of hospital ownership on quality of care
    evidence from England
    Author: Moscelli, Giuseppe; Gravelle, Hugh; Siciliani, Luigi; Gutacker, Nils
    Published: March 2017
    Publisher:  Centre for Health Economics, University of York, York, UK

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CHE research paper ; 145
    Subjects: ownership; hospital; quality; choice; distance; endogeneity
    Scope: 1 Online-Ressource (circa 34 Seiten)
  9. Examining gender inequalities in land rights indicators in Asia
    Published: 2015
    Publisher:  Internat. Food Policy Research Inst., Washington, DC

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: IFPRI discussion paper ; 1429
    Subjects: gender; land; ownership; Asia
    Scope: Online-Ressource (VI, 28 S.), graph. Darst.
  10. How does choice affect beliefs?
    Author: Hajdu, Gergely; Krusper, Balázs
    Published: May 2022
    Publisher:  Vienna University of Economics and Business, Wien

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    Language: English
    Media type: Book
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    Series: Department of Economics working paper / Vienna University of Economics and Business ; no. 322
    Subjects: biased beliefs; ownership; behavioral economics; choice effect
    Scope: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  11. Ownership, governance, management and firm performance
    evidence from Italian firms
    Author: Baltrunaite, Audinga; Formai, Sara; Linarello, Andrea; Mocett, Sauro
    Published: [2022]
    Publisher:  Banca d'Italia, [Rom]

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    Language: Italian
    Media type: Book
    Format: Online
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    Series: Questioni di economia e finanza / Banca d'Italia ; number 678 (March 2022)
    Subjects: ownership; family firms; corporate governance; managerial practices; human capital; firm size; productivity; technology
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  12. The unloved stepchild
    why some firms are allowed to die in a business group
    Author: Ferris, Stephen P.; Hanousek, Jan; Hanousek, Jan; Kapounek, Svatopluk
    Published: 29 December 2022
    Publisher:  Centre for Economic Policy Research, London

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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP17775
    Subjects: bankruptcy; financial distress; business groups; ownership; legal origin
    Scope: 1 Online-Ressource (circa Seiten)
  13. Interdependencies and Ownership
    The Impact of Relatedness and Multimarket Contact on Cash Flow Rights in Multiunit Firms
    Author: Sengul, Metin; Obloj, Tomasz
    Published: 2022
    Publisher:  SSRN, [S.l.]

    We examine the influence of interdependencies on parent companies’ cash flow rights in their subsidiaries, focusing on two forms of interdependency that characterize multiunit firms: relatedness and multimarket contact. Specifically, we argue that... more

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    We examine the influence of interdependencies on parent companies’ cash flow rights in their subsidiaries, focusing on two forms of interdependency that characterize multiunit firms: relatedness and multimarket contact. Specifically, we argue that interdependencies affect the extent of a parent’s cash flow rights in a subsidiary through their influence over value creation and the value capture potential of that subsidiary. Accordingly, we hypothesize that parent companies will have higher cash flow rights in highly related subsidiaries. We also hypothesize that there will be an inverted-U shaped relationship between the extent of multimarket contact and parents’ cash flow rights in subsidiaries that operate in industries with multimarket rivals. We tested our predictions and found corroborating evidence in a sample of subsidiaries that had been newly added to French manufacturing firms. In supplementary analyses, we also found that relatedness and multimarket contact affect the position of a new subsidiary in the hierarchical structure of a firm, as measured by the subsidiary’s number of direct paths to and hierarchical distance from the parent. Our study, which builds on the theory of ownership as a governance mechanism, provides initial evidence surrounding the role of interdependencies as antecedents of cash flow rights within multiunit firms

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: HEC Paris Research Paper ; No. SPE-2022-1458
    Subjects: organization design; interdependencies; ownership; multi-subsidiary firms; relatedness; multimarket contact
    Scope: 1 Online-Ressource (45 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 23, 2022 erstellt
  14. How headquarters relocation is affected by rising wages and ownership
    evidence from China's annual survey of industrial enterprises, 1999-2008
    Author: Wang, Qingtao; Chen, Kevin Z.; Chiang, Longwen; Xie, Xuanli
    Published: December 2016
    Publisher:  International Food Policy Research Institute, Washington, DC, USA

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    Language: English
    Media type: Book
    Format: Online
    Series: IFPRI discussion paper ; 01593
    Subjects: headquarters; rising wages; ownership; relocation
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  15. Energy efficiency, district heating and waste management
    essays on environmental economics
    Author: Egüez, Alejandro
    Published: 2020
    Publisher:  Department of Economics, Umeå University, Umeå, Sweden

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    Language: English
    Media type: Dissertation
    Format: Online
    ISBN: 9789178553877
    Series: Umeå economic studies ; no. 979
    Subjects: energy efficiency; energy performance certificates; multi-dwelling buildings; ownership; principal-agent; public versus private management; split incentives
    Scope: 1 Online-Ressource (circa 31 Seiten)
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    Dissertation, Umeå University, 2020
  16. Ownership and district heating prices
    the case of an unregulated natural monopoly
    Author: Egüez, Alejandro
    Published: [2020]
    Publisher:  Department of Economics, Umeå University, Umeå, Sweden

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    Format: Online
    Series: Umeå economic studies ; no. 980
    Subjects: district heating prices; ownership; public versus private; natural monopoly; two-part tariff
    Scope: 1 Online-Ressource (circa 41 Seiten)
  17. When does management develop?
    external linkages, structured practices, and productivity in Chinese firms
    Author: Karplus, Valerie J.; Geissmann, Thomas; Zhang, Da
    Published: [2019]
    Publisher:  MIT Sloan School of Management, [Cambridge, MA]

    This study presents evidence that structured management practices and their relationship to productivity can vary with a firm's external institutional linkages. Combining ideas from new institutionalism with the empirical management literature, we... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    This study presents evidence that structured management practices and their relationship to productivity can vary with a firm's external institutional linkages. Combining ideas from new institutionalism with the empirical management literature, we formulate propositions of how external linkages could affect the development and utility of structured management practices. We test these propositions in a representative sample of 390 manufacturing firms in China, where state linkages, proxied by controlling ownership, stabilize operating conditions for a subset of government-owned firms in the country's authoritarian capitalist system. Specifically, we find that measures of structured management practices increase with the strength of linkages to the state, with state-owned firms scoring higher than domestic private firms. We further show that, on average, a firm's overall management practice score is positively and significantly related to total factor productivity (TFP) in state-owned firms, but the correlation is no different from zero in both domestic and foreign private firms. We hypothesize that in China state linkages may lengthen decision horizons and enable firms to benefit from introducing management practices for both instrumental and symbolic reasons

     
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    Edition: Last revised: September 2019
    Series: MIT Sloan School working paper ; 6162 (19)
    MIT Sloan Research Paper ; No. 6162-19
    Subjects: management; ownership; China; productivity; institutional linkages
    Scope: 1 Online-Ressource (circa 57 Seiten), Illustrationen
  18. The persistent ownership concentration of private firms
    Author: Bøhren, Øyvind; Iancu, Diana; Radulescu, Georgiana; Strøm, Reidar Øystein
    Published: [2020]
    Publisher:  Centre for Corporate Governance Research, Oslo, Norway

    We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership... more

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    We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership dominates ownership determinants proposed in the literature, and the estimated relationship depends heavily on whether the economic model and the econometric technique capture the strong ownership persistence. This evidence suggests that lower share liquidity increases ownership duration, and that feed-back from economic outcomes to ownership structure is a less severe problem for identification when the firm's shares are illiquid

     
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    Language: English
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    Series: Working paper / Centre for Corporate Governance Research ; no. 2020, 2
    European Corporate Governance Institute – Finance Working Paper ; No. 668/2020
    Subjects: ownership; concentration; persistence; dynamics; duration; illiquidity; privatefirms; family firms; identification; system GMM; register data
    Scope: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  19. A bitter adjustment for German family capitalism
    succession and a changing ownership transfer regime
    Author: Stamm, Isabell; Sandham, Allan
    Published: November 2023
    Publisher:  Max Planck Institute for the Study of Societies, Cologne, Germany

    Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners in Germany increasingly envision selling their business beyond the family, which fundamentally changes the institutionalized way... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners in Germany increasingly envision selling their business beyond the family, which fundamentally changes the institutionalized way private ownership of businesses is transferred. In this paper, we analyze and explain this fundamental change in German family capitalism since the 1990s. Drawing on a sociology of ownership, we view family succession as a transfer regime and show how this regime has been problematized and gradually reframed. Based on analysis of a rich corpus of documents, archival materials, and twenty-seven expert interviews, we show how a new transfer regime – the exit regime – emerges, which coordinates ownership transfer among founders through matchmaking. Our study contributes to research on family capitalism and succession by demonstrating how family capital moves toward the financial sector without becoming financial capital as it loses the family and gains the founder as personalized points of reference. Deutschland ist für seine Familienunternehmen bekannt, die das Eigentum am Unternehmen innerhalb der Familie halten und es familienintern an die nächste Generation übergeben. Allerdings ziehen immer mehr Unternehmenseigentümer in Betracht, ihr Unternehmen an Externe zu verkaufen, wodurch sich die institutionalisierte Form des Eigentumstransfers von Unternehmen stark wandelt. In diesem Discussion Paper analysieren und erläutern wir diesen sich seit den 1990er-Jahren vollziehenden Wandel, der den Familienkapitalismus in Deutschland grundlegend verändert. Wir setzen uns aus der Perspektive einer Soziologie des Eigentums mit familieninterner Nachfolge als spezifischem Transferregime auseinander und zeigen, wie dieses Regime problematisiert und allmählich umgestaltet wurde. Anhand der Analyse einer umfangreichen Sammlung von Dokumenten und Archivmaterialien sowie von 27 Experteninterviews veranschaulichen wir, wie sich ein neues Transferregime – das Exit-Regime – herausbildet, das den Eigentumstransfer zwischen „Gründern“ über moderierte Vermittlung koordiniert. Unsere Studie leistet einen Betrag zur Forschung über Familienkapitalismus und Nachfolge, indem sie verdeutlicht, wie Familienkapital finanzialisiert wird, ohne dabei selbst zu Finanzkapital zu werden, solange die Familie mit dem Gründer als persönlichem Bezugspunkt ersetzt wird.

     
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    Language: English
    Media type: Book
    Format: Online
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    hdl: 21.11116/0000-000D-F310-E
    RVK Categories: QP 440
    Series: MPIfG discussion paper ; 23, 5
    Subjects: capitalism; family; ownership; regime change; succession; Eigentum; Familie; Kapitalismus; Nachfolge; Regimewandel
    Scope: 1 Online-Ressource (IV, 24 Seiten), Illustrationen, Diagramme
  20. Three centuries of corporate governance in the UK
    Author: Turner, John D.
    Published: January 2024
    Publisher:  Queen's University Centre for Economic History, Belfast

    As articulated by Adam Smith, one of the central issues facing companies is that managers will not run the business in the interests of its owners and will misuse resources. This ultimately has a detrimental consequence for the wealth of the nation.... more

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    As articulated by Adam Smith, one of the central issues facing companies is that managers will not run the business in the interests of its owners and will misuse resources. This ultimately has a detrimental consequence for the wealth of the nation. This survey reviews the nature and evolution of the corporate governance of UK public companies over the past 300 years. It makes two principal arguments. First, because the separation of ownership and control was one of the rationales for the introduction of the corporate form, we should not be surprised that corporate ownership has generally been diffuse. Second, over time, the way in which owners ensure that managers act in their interests has gradually changed from a system in which shareholders monitored and exercised voice to one where there was more reliance on external forces and exiting ownership.

     
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    Media type: Book
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    hdl: 10419/281060
    Series: QUCEH working paper series ; 24, 01
    Subjects: Corporate governance; shareholders; ownership; control; agency costs; UK
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen