Global S&T Development Trend Analysis Platform of Resources and Environment
Performance Differential Between Private and State-Owned Enterprises: An Analysis of Profitability and Leverage | |
[unavailable] | |
2019-05-13 | |
出版年 | 2019 |
语种 | 英语 |
国家 | 国际 |
领域 | 气候变化 |
英文摘要 |
Privatization could improve the performance of public firms. We investigate empirically 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 privately owned enterprises. However, they appear to be more dependent on debt for their financial needs 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. WORKING PAPER NO: 950 |
URL | 查看原文 |
来源平台 | Asian Development Bank |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/237633 |
专题 | 气候变化 |
推荐引用方式 GB/T 7714 | [unavailable]. Performance Differential Between Private and State-Owned Enterprises: An Analysis of Profitability and Leverage,2019. |
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文件名称/大小 | 文献类型 | 版本类型 | 开放类型 | 使用许可 | ||
adbi-wp950.pdf(563KB) | 科技报告 | 开放获取 | CC BY-NC-SA | 浏览 下载 |
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