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The Separation of Ownership and Control in East Asian Corporations
We examine the separation of ownership and control for 2,980 corporations in nine East Asian countries. In all countries, voting rights frequently exceed cash-flow rights via pyramid structures andExpand
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Disentangling the Incentive and Entrenchment Effects of Large Shareholdings
This article disentangles the incentive and entrenchment effects of large ownership. Using data for 1,301 publicly traded corporations in eight East Asian economies, we find that firm value increasesExpand
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Enterprise Restructuring in Transition: A Quantitative Survey
We survey the empirical literature analysing the process of enterprise restructuring in transition economies. The survey provides new insights into the relative effectiveness of different reformExpand
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Debt Enforcement around the World
Insolvency practitioners from 88 countries describe how debt enforcement will proceed against an identical hotel about to default on its debt. We use the data on time, cost, and the likelyExpand
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The Effect of Corporate Taxes on Investment and Entrepreneurship
We present new data on effective corporate income tax rates in 85 countries in 2004. The data come from a survey, conducted jointly with PricewaterhouseCoopers, of all taxes imposed on "the same"Expand
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Foreign Investment and Productivity Growth in Czech Enterprises
This article uses firm-level data for the Czech Republic to show that during 1992-96 foreign investment had the predicted positive impact on total factor productivity growth of recipient firms. ThisExpand
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Who Owns the Media?*
We examine the patterns of media ownership in 97 countries around the world. We find that almost universally the largest media firms are owned by the government or by private families. GovernmentExpand
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Trading on Time
We determine how time delays affect trade, using newly collected data on the days it takes to move standard cargo from the factory gate to the ship in 98 countries. We estimate a difference gravityExpand
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The New Comparative Economics
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence onExpand
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Regulation and Growth
Using objective measures of business regulations in 135 countries, we establish that countries with better regulations grow faster. Improving from the worst quartile of business regulations to theExpand
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