Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7364259 | Journal of International Financial Markets, Institutions and Money | 2018 | 44 Pages |
Abstract
Using a sample of 8232 firms from 81 countries, we investigate the effect of government ownership on financial constraint and the effect of financial constraint on corporate performance. In addition, we address the moderating role of country-level corruption on those two relationships. Results show that government-owned firms face fewer financial constraints and that firms with fewer financial constraints perform better. Furthermore, we find that the association between government ownership and financial constraint and the association between financial constraint and corporate performance are less pronounced for firms operating in countries with a lower level of corruption.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Zulfiquer Ali Haider, Mingzhi Liu, Yefeng Wang, Ying Zhang,