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Private Versus Public Corporate Ownership
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Book Synopsis Private Versus Public Corporate Ownership by : Kristian D. Allee
Download or read book Private Versus Public Corporate Ownership written by Kristian D. Allee and published by . This book was released on 2019 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the association between public versus private ownership and future long-term changes in profitability. Managers have long debated the implications of public and private corporate ownership; however, little empirical research has provided insight into the issue. We find robust evidence that public firms are associated with significantly lower future long-term changes in operating profitability compared to private firms matched on current profitability, size, growth and industry. We also find that the differential future long-term changes in profitability of public and private firms manifests in both future changes in profit margins and changes in asset turnovers. Additionally, we find evidence consistent with an association between short-termism, competition, and agency costs and the lower future long-term changes in profitability for public versus private firms. The results provide insight for managers and investors into the differential future changes in profitability of public versus private firms and into the factors that drive the differential profitability.
Book Synopsis Corporate ownership and performance : going public versus going private in Europe by : Franz R. Hahn
Download or read book Corporate ownership and performance : going public versus going private in Europe written by Franz R. Hahn and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Concentrated Corporate Ownership by : Randall K. Morck
Download or read book Concentrated Corporate Ownership written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-12-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard economic models assume that many small investors own firms. This is so in most large U.S. firms, but wealthy individuals or families generally hold controlling blocks in smaller U.S. firms and in all firms in most other countries. Given this, the lack of theoretical and empirical work on tightly held firms is surprising. What corporate governance problems arise in tightly held firms? How do these differ from corporate governance problems in widely held firms? How do control blocks arise and how are they maintained? How does concentrated ownership affect economic growth? How should we regulate tightly held firms? Drawing together leading scholars from law, economics, and finance, this volume examines the economic and legal issues of concentrated ownership and their impact on a shifting global economy.
Book Synopsis Corporate Ownership Structures by : Lucian A. Bebchuk
Download or read book Corporate Ownership Structures written by Lucian A. Bebchuk and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the inefficiencies that might arise in the ownership structure chosen at the initial public offering stage. We show that, contrary to what is commonly believed, the desire of initial owners to maximize their proceeds leads them to choices that, although privately optimal, may be socially inefficient. This distortion tends to be in the direction of excessive incidence of controlling shareholder structures and excessive divestment of cash flow rights. Our analysis has far-reaching policy implications for dual class stock, stock pyramiding, sale of control rules, and public offerings of minority shares. Among its positive implications, our analysis suggests reasons for the substantial differences in the incidence of control blocks across different countries
Book Synopsis Corporate ownership structures by : Lucian Arye Bebchuk
Download or read book Corporate ownership structures written by Lucian Arye Bebchuk and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Public Versus Private Ownership by : Mary M. Shirley
Download or read book Public Versus Private Ownership written by Mary M. Shirley and published by World Bank Publications. This book was released on 2000 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance?
Book Synopsis Public Vs. Private Ownership by : Mary M. Shirley
Download or read book Public Vs. Private Ownership written by Mary M. Shirley and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disappointment with insider trading in Russia, with voucher privatization in the Czech Republic, and with the privatization of infrastructure in many developing countries has spawned new critiques of privatization. How do theory and empirical evidence answer the much-debated questions, Which is more important to performance, competition or private ownership? Are state enterprises more subject to welfare-reducing interventions by government than private firms are? Do state enterprises suffer more from problems of corporate governance? At the heart of the debate about public versus private ownership lie three questions: · Does competition matter more than ownership? · Are state enterprises more subject to welfare-reducing interventions by government than private firms are? · Do state enterprises suffer more from governance problems than private firms do? Even if the answers to these questions favor private ownership, the question must still be asked: Do distortions in the process of privatization mean that privatized firms perform worse than state enterprises? Shirley and Walsh's review found greater ambiguity about the merits of privatization and private ownership in the theoretical literature than in the empirical literature. In most cases, empirical research strongly favors private ownership in competitive markets over a state-owned counterfactual (although construction of the counterfactual is itself a problem). Theory's ambiguity about ownership in monopoly markets seems better justified. Since the choice confronting governments is between state ownership and privatization rather than between privatization and optimality, theory has left a gap that empirical work has tried to fill. Further research is needed. This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to analyze the effects of privatization and the role of regulation and politics.
Book Synopsis The Modern Corporation and Private Property by : Adolf Augustus Berle
Download or read book The Modern Corporation and Private Property written by Adolf Augustus Berle and published by . This book was released on 1937 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Changing Face of Corporate Ownership by : Michael J. Rubach
Download or read book The Changing Face of Corporate Ownership written by Michael J. Rubach and published by Routledge. This book was released on 2013-10-28 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the shareholder activism of institutional investors, and the effect of this activism on portfolio performance. By focusing on 118 institutional investors headquartered in the United States, the book is unique in addressing the shareholder activism of a large sample. Institutional shareholder activism is defined to include both traditional mechanisms of influence (i.e. filing shareholder proposals) and relationship investing. Institutional owners included private and public pension funds, mutual funds, bank trusts, insurance companies, endowments, and foundations. These institutional owners differ substantially, and these differences lead institutions to use their ownership power to pursue different philosophies and actions. Some institutions follow a passive governance policy, While others adopt an activist role. This book seeks to answer four questions: (1) Are institutional owners actively involved in the strategic affairs of companies in their portfolios? (2)Which forms of activism do institutional owners employ (either confrontational mechanisms, such as filing shareholder proposals, or relationship building mechanisms)? (3)Which forms of activism employed are most effective? and (4) Does the institutional type affect its pursuit of shareholder activism? In answering these questions the author suggests new important results that in many cases are contrary to what prior reports of the activities by a small number of institutional owners may intimate.
Book Synopsis Private Versus Public Ownership by : Salman Shah
Download or read book Private Versus Public Ownership written by Salman Shah and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Public Ownership Vs. Regulated Natural Monopolies by : Allen Ripley Foote
Download or read book Public Ownership Vs. Regulated Natural Monopolies written by Allen Ripley Foote and published by . This book was released on 1899 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Private Versus Public Enterprise by : Jacek Tittenbrun
Download or read book Private Versus Public Enterprise written by Jacek Tittenbrun and published by . This book was released on 1996 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the author argues that private ownership is more efficient than public ownership. He presents three major theories that support private enterprise: the property rights theory, the public choice theory, and the Austrial school. Their advantages and drawbacks are examined in theoretical terms and are supported by the evidence of working examples. From this, conclusions are drawn about privatization and the validity of the considered theories.
Book Synopsis The Modern Corporation and Private Property by :
Download or read book The Modern Corporation and Private Property written by and published by Transaction Publishers. This book was released on 1991-01-01 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written more than a half-century ago, The Modern Corporation and Private Property remains the fundamental introduction to the internal organization of the corporation in modern society. Combining the analytical skills of an attorney with those of an economist, Berle and Means raise the central questions, even when their answers have been superseded by changing circumstances. This volume remains of valuable to all those concerned with the evolution of this major social institution.
Author :National Association of Railway and Utilities Commissioners (U.S.). Committee on Public Ownership and Operation Publisher : ISBN 13 : Total Pages :6 pages Book Rating :4.:/5 (76 download)
Book Synopsis Private Ownership with Regulation Vs. Public Ownership Without Regulation by : National Association of Railway and Utilities Commissioners (U.S.). Committee on Public Ownership and Operation
Download or read book Private Ownership with Regulation Vs. Public Ownership Without Regulation written by National Association of Railway and Utilities Commissioners (U.S.). Committee on Public Ownership and Operation and published by . This book was released on 1920* with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Summary of the Law of Public Corporations by : Howard Strickland Abbott
Download or read book A Summary of the Law of Public Corporations written by Howard Strickland Abbott and published by . This book was released on 1908 with total page 826 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis State Versus Private Ownership by : Andrei Shleifer
Download or read book State Versus Private Ownership written by Andrei Shleifer and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address social goals can be addressed through government contacting and regulation without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, and the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play.
Author :Ontario. Legislative Assembly. Select Committee on Public Utilities Publisher :L.K. Cameron ISBN 13 : Total Pages :256 pages Book Rating :4.A/5 ( download)
Book Synopsis Municipal Trading and Municipal Ownership Or Operation of Public Utilities by : Ontario. Legislative Assembly. Select Committee on Public Utilities
Download or read book Municipal Trading and Municipal Ownership Or Operation of Public Utilities written by Ontario. Legislative Assembly. Select Committee on Public Utilities and published by L.K. Cameron. This book was released on 1903 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
