Results 191 to 200 of about 852,457 (267)

Can Politics Tame the Market? Market Responses to Government Control of Fully and Partially Privatized Firms in China

open access: yesEuropean Financial Management, EarlyView.
ABSTRACT This study examines factors influencing full (FP) versus partial (PP) privatization and how markets respond to government control in PP and FP firms. Exploiting China's 2005 NTS reform as a natural experiment, we find that treated PP firms experienced significantly lower post‐reform performance, driven by persistent private benefits of control,
Christos Mavrovitis (Mavis)   +1 more
wiley   +1 more source

Back From the Brink: State‐Guaranteed Loans and Financial Recovery

open access: yesEuropean Financial Management, EarlyView.
ABSTRACT This paper studies the financial trajectories of large firms that accessed a €200 billion state‐backed loan programme in Italy, part of broader interventions to contain corporate distress during the COVID‐19 crisis. Using firm‐level data from 2016 to 2023, we find that supported firms were initially more leveraged, less profitable and less ...
Emanuele Bajo   +2 more
wiley   +1 more source

Stock Market Response to Private Corruption: The Moderation Role of Public Perceptions

open access: yesEuropean Financial Management, EarlyView.
ABSTRACT This study examines how corporate corruption events affect stock returns among European firms, focusing on the moderating role of public sector corruption perceptions measured by the Corruption Perceptions Index (CPI). Using over 25,000 firm‐level events from 2007 to 2022, the study finds that corruption events lead to negative abnormal ...
Marta Alonso   +3 more
wiley   +1 more source

Sports CEOs and Corporate Innovation

open access: yesEuropean Financial Management, EarlyView.
ABSTRACT Using a hand‐collected data set, we find that firms led by CEOs who were student‐athletes in college exhibit significantly superior innovation outcomes, as measured by patent numbers, citation counts, and the economic value of patents. Evidence from CEO turnover analysis supports a CEO imprinting interpretation.
Jaideep Chowdhury   +2 more
wiley   +1 more source

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