کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5093147 | 1478434 | 2017 | 17 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Growth and growth obstacles in transition economies: Privatized versus de novo private firms
ترجمه فارسی عنوان
موانع رشد و رشد در اقتصادهای در حال گذار: شرکت خصوصی در مقایسه با شرکت های خصوصی
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
چکیده انگلیسی
In this study, we employ the World Bank Enterprise Survey (WBES) data collected in 2002, 2005, and 2009 for 21499 firms from 27 Eastern European and Central Asian countries to examine firm-level growth constraints faced by privatized firms versus those faced by the originally (de novo) private firms. We find that the de novo firms experience significantly higher financial, corruption, and legal obstacles than the privatized firms. We further document that, even though faced with more obstacles in the business environment, the de novo firms outperform the privatized firms. One explanation is that the profit motive of the de novo firms is organic, whereas the profit motive of the privatized firms is acquired. The organic profit motive may be powerful enough for the de novo firms to overcome more difficulties in the business environment and excel. Our study is the first in the privatization literature to go beyond performance comparisons and examine firm-level growth constraints.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Corporate Finance - Volume 42, February 2017, Pages 422-438
Journal: Journal of Corporate Finance - Volume 42, February 2017, Pages 422-438
نویسندگان
Juliet D'Souza, William L. Megginson, Barkat Ullah, Zuobao Wei,