Abstract
This study investigates the potential determinants of speed of state ownership relinquishment, measured by the annual decrease in the percentage of ownership by the government, as well as its impact on corporate performance. Several country- and firm-level determinants affecting the speed of the government ownership withdrawal are documented. Likewise, the initial positive relation between the speed of government ownership relinquishment and performance is reported. However, beyond a certain level, if the governments increase the annual percentage of ownership relinquishment, the performance could be inferior. In other words, a nonlinear relation with an inverted U-shape is detected.
| Original language | English |
|---|---|
| Pages (from-to) | 82-96 |
| Number of pages | 15 |
| Journal | North American Journal of Economics and Finance |
| Volume | 41 |
| DOIs | |
| Publication status | Published - 2017 Jul |
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All Science Journal Classification (ASJC) codes
- Finance
- Economics and Econometrics
Cite this
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Post-privatization speed of state ownership relinquishment : Determinants and influence on firm performance. / Chang, Shao Chi; Boontham, Wilasinee.
In: North American Journal of Economics and Finance, Vol. 41, 07.2017, p. 82-96.Research output: Contribution to journal › Article
TY - JOUR
T1 - Post-privatization speed of state ownership relinquishment
T2 - Determinants and influence on firm performance
AU - Chang, Shao Chi
AU - Boontham, Wilasinee
PY - 2017/7
Y1 - 2017/7
N2 - This study investigates the potential determinants of speed of state ownership relinquishment, measured by the annual decrease in the percentage of ownership by the government, as well as its impact on corporate performance. Several country- and firm-level determinants affecting the speed of the government ownership withdrawal are documented. Likewise, the initial positive relation between the speed of government ownership relinquishment and performance is reported. However, beyond a certain level, if the governments increase the annual percentage of ownership relinquishment, the performance could be inferior. In other words, a nonlinear relation with an inverted U-shape is detected.
AB - This study investigates the potential determinants of speed of state ownership relinquishment, measured by the annual decrease in the percentage of ownership by the government, as well as its impact on corporate performance. Several country- and firm-level determinants affecting the speed of the government ownership withdrawal are documented. Likewise, the initial positive relation between the speed of government ownership relinquishment and performance is reported. However, beyond a certain level, if the governments increase the annual percentage of ownership relinquishment, the performance could be inferior. In other words, a nonlinear relation with an inverted U-shape is detected.
UR - http://www.scopus.com/inward/record.url?scp=85026212355&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85026212355&partnerID=8YFLogxK
U2 - 10.1016/j.najef.2017.04.001
DO - 10.1016/j.najef.2017.04.001
M3 - Article
AN - SCOPUS:85026212355
VL - 41
SP - 82
EP - 96
JO - North American Journal of Economics and Finance
JF - North American Journal of Economics and Finance
SN - 1062-9408
ER -