Government ownership, financial constraint, corruption, and corporate performance: International evidence

Haider, Zulfiquer Ali; Liu, Mingzhi; Wang, Yefeng; Zhang, Ying

doi:10.1016/j.intfin.2017.09.012

Cited by 58 publications

(40 citation statements)

References 58 publications

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“…Our study registers the perception of financial constraints by top managers. Our survey is based on straightforward questions regarding the existence of financial constraints (like [8,9]). In addition, we directly measure the existence of financial constraints.…”

Section: Introductionmentioning

confidence: 99%

Perception and Drivers of Financial Constraints for the Sustainable Development

et al. 2020

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Financial market imperfections constrain firms’ ability to obtain funds. This is especially true for the former communist bloc countries. However, the restrictions on access to financing and the attitudes of management in these geographies remain overlooked by academic research and represent an important obstacle on the roadmap to sustainable development. The objective of this paper is to fill this gap by analyzing the impact of ownership structure, institutional environment development, and debt market profile on the perception of financial constraints by the representatives of corporate top management from 28 countries of the former communist bloc. Our analysis spans over the period 2002–2013. We apply the probit and Heckman models to investigate nonlinear and multicast effects of the considered factors. We evidence that during the crisis and post-crisis periods, foreign ownership alleviates the restrictions on access to financial resources. We also discuss the role of state ownership. We find that the volume of local currency bond market has a nonlinear U-shape relationship. Our results are useful for policy makers focused on sustainable development of the former communist economies by means of improving access of businesses to financing.

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Section: Introductionmentioning

confidence: 99%

Perception and Drivers of Financial Constraints for the Sustainable Development

et al. 2020

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“…Following prior studies, such as Chen, Sharma, Zhan, and Liu [13], Haider et al [44], Kieschnick and Moussawi [45], and Francis et al [46], we control a variety of board and firm characteristics that may affect innovation capability in our regressions. For firm characteristics, we include firm age (Age), firm ownership (Nature), research and development staff (Rdstaff ), asset-liability ratio (Alr), liquidity ratio (Al), and shareholding ratio of the largest shareholder (Concen).…”

Section: Control Variablesmentioning

confidence: 99%

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

2019

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This study applies a panel threshold regression model to reconcile the inconsistent findings about returnee chief executive officer (CEO) effects on enterprise innovation using the environmental uncertainty as the threshold variable and panel data from 187 publicly traded electronic firms in China for the period 2012–2016. The empirical results suggest that a significant double threshold effect does exist, showing an inverted-U correlation between returnee CEO and innovation. Specifically, a returnee CEO significantly promotes innovation at moderate levels of environmental uncertainty but significantly hinders innovation when the environmental uncertainty surpasses the larger threshold value, which contradicts much of the previous literature. This research enriches the scholarship on returnee CEOs and lays a theoretical foundation that firms can use in corporate governance. If firms pay more attention to environmental uncertainty while formulating new CEO introduction policies, substantial innovation ability can be improved at moderate levels of environmental uncertainty.

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“…Bank milik pemerintah memiliki kelebihan dalam berurusan dengan sistem pengaturan sehingga mereka membuat bank mudah beradaptasi dengan peraturan baru (Haider et al, 2018 (Iannota et al, 2013). Bank-bank milik pemerintah lebih fokus dengan aktivitas peminjaman daripada aktivitas nontradisional sehingga menyimpulkan bahwa bank memiliki risiko tinggi karena ketidakmampuan bank untuk melakukan penerapan diversifikasi.…”

Section: Metode Penelitian Identifikasi Variabelunclassified

Diversifikasi Pendapatan, Kepemilikan Pemerintah, Kinerja Dan Risiko Bank

Setiawan¹,

Shabrina²

2018

JDEB

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This study investigates the effect of income diversification on bank performance and risk for government owned banks in Indonesia. This study uses return on assets (ROA) for bank performance and standard deviation of return on assets (SDROA) for bank risk. Using a data set of government owned banks in Indonesia during the period 2012-2016, we find evidence that income diversification is positively related to bank performance (ROA). Income diversification is positively related to bank risk. We find that income diversification increases performance and also risk for government owned banks. Tujuan dalam penelitian ini adalah untuk mengetahui adanya pengaruh diversifikasi pendapatan terhadap kinerja dan risiko bank. Pengukuran pada penelitian ini menggunakan return on assets (ROA) untuk mengukur kinerja dan standar deviasi return on assets (SDROA) untuk mengukur risiko bank. Penelitian ini menggunakan sampel bank milik pemerintah selama periode 2012-2016. Penelitian ini menunjukkan hasil bahwa terdapat pengaruh positif signifikan diversifikasi pendapatan terhadap kinerja bank. Implementasi strategi diversifikasi pendapatan juga berpengaruh positif signifikan terhadap risiko bank. Penelitian ini menunjukkan bahwa diversifikasi pendapatan tidak hanya meningkatkan kinerja namun juga risiko bank milik pemerintah.

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Government ownership, financial constraint, corruption, and corporate performance: International evidence

Cited by 58 publications

References 58 publications

Perception and Drivers of Financial Constraints for the Sustainable Development

Perception and Drivers of Financial Constraints for the Sustainable Development

Does the Level of Environmental Uncertainty Matter in the Effect of Returnee CEO on Innovation? Evidence from Panel Threshold Analysis

Diversifikasi Pendapatan, Kepemilikan Pemerintah, Kinerja Dan Risiko Bank

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