Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/222717 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
ADBI Working Paper Series No. 950
Verlag: 
Asian Development Bank Institute (ADBI), Tokyo
Zusammenfassung: 
The purpose of this paper is to empirically investigate the relationship between ownership identity and the performance of firms in terms of profitability and solvency. Using cross-sectional data covering over 25,000 firms worldwide and by employing various empirical methods, we find robust support for the inferior performance of government enterprises over privately owned firms. Specifically, state-owned enterprises (SOEs) tend to be less profitable than private-owned enterprises. However, they appear to be more dependent on debt for their financial need and are, thus, better leveraged. Additionally, SOEs are more labor intensive and have higher labor costs. Thus, evidence from this study could be interpreted to mean that privatization could improve the performance of public firms. However, a study over a longer period is needed before these results can be considered conclusive.
Schlagwörter: 
performance
ownership
solvency
state-owned enterprises
private-owned enterprises
JEL: 
G32
G341
Creative-Commons-Lizenz: 
cc-by-nc-nd Logo
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
563.9 kB





Publikationen in EconStor sind urheberrechtlich geschützt.