The purpose of this article is to review the results of research papers conducted in the area of foreign ownership impact on company's performance and to highlight the specifics of this linkage in the environment of transition economies. Several authors have documented greater efficiency of private companies compared to state-owned. According to different studies, an alternative option for tran...

Information technologies such as big data and artificial intelligence promote the development of digital economy, accelerate transformation enterprises, continuously facilitate reform enterprise production, organization, management. This study takes Chinese A-share listed companies on Shanghai Shenzhen stock exchanges a sample to examine influence financial shared services corporate debt cost u...

From the viewpoint of a company’s controlling shareholder, the optimal ownership structure generally involves some measure of dispersion, to avoid excessive monitoring by other shareholders. The optimal dispersion of share ownership can be achieved by going public, but this choice also entails some costs (the cost of listing and the loss of control over the shareholder register). If the control...

Taxes have major costs beyond the collected revenue: deadweight from distorted incentives, compliance and enforcement costs, etc. A simple market mechanism, the Equity Tax, avoids these problems for the trickiest cases: corporate, dividend, and capital gains taxes. It exploits the ability of the share prices to reflect the expected true annual return (as perceived by investors, not as defined b...

Taxes have major costs beyond the collected revenue: deadweight from distorted incentives, compliance and enforcement costs, etc. A simple market mechanism, the Equity Tax, avoids these problems for the trickiest cases: corporate, dividend, and capital gains taxes. It exploits the ability of the share prices to reflect the expected true annual return (as perceived by investors, not as defined b...

This paper investigates the extent to which stocks of Building materials firms listed in Nigerian Stock Exchange (NSE) are a hedge against the expected and unexpected inflation in Nigeria over the period 2000–2011. Unexpected inflation is computed as the difference between the actual inflation and the estimates of the expected inflation. The study used real rate of return on equity and regressi...

The cost of equity capital has been an important topic to both academics and practitioners. In this study, we examine the effect information technology (IT) intensity on the industry cost of equity capital. Findings generally support the idea that IT intensity is a significant factor driving industry cost of equity capital. Further, an interaction between IT intensity and time suggests that IT ...

This article provides a literature review about the impact of the intangible assets on the design of corporate financial and governance policies. Intangible assets show a set of characteristicsnamely, high levels of risk and uncertainty, firm-specificity, human capital intensity, low observability and long-term naturethat make them markedly distinct from other categories of assets. These charac...

Several papers suggest that private benefits can explain the differential pric­ ing between share classes with differential voting rights. However 1 in Brazil the price differential between voting and non-voting shares has been negative for sev­ eral companies between July 1994 and September 2002. This paper investigates the determinants that imply this discount of voting shares vis-a.-vis non-...