Institutional Environment, Firm Ownership and IPO First-Day Returns: Evidence from China

2014 ◽  
Author(s):  
Yibiao Chen ◽  
Steven Shuye Wang ◽  
Wei Li ◽  
Wilson H.S. Tong
Keyword(s):  
Institutional Environment ◽  
Firm Ownership

Institutional Environment, Firm Ownership and IPO First-Day Returns: Evidence from China

2013 ◽  
Author(s):  
Yibiao Chen ◽  
Steven Shuye Wang ◽  
Wei Li ◽  
Wilson H.S. Tong
Keyword(s):  
Institutional Environment ◽  
Firm Ownership

Institutional environment, firm ownership, and IPO first-day returns: Evidence from China

2015 ◽  
Vol 32 ◽  
pp. 150-168 ◽  
Author(s):  
Yibiao Chen ◽  
Steven Shuye Wang ◽  
Wei Li ◽  
Qian Sun ◽  
Wilson H.S. Tong
Keyword(s):  
Institutional Environment ◽  
Firm Ownership

Convergence of Corporate Governance Models

2004 ◽  
pp. 129-140 ◽  
Author(s):  
M. Tretyakov
Keyword(s):  
Corporate Governance ◽  
Institutional Environment ◽  
Driving Forces ◽  
Commodity Markets ◽  
Legal Systems ◽  
National Institutions ◽  
Governance Models ◽  
Changing Role

The article focuses on the analysis of the process of convergence of outsider and insider models of corporate governance. Chief characteristics of basic and intermediate systems of corporate governance as well as the changing role of its main agents are under examination. Globalization of financial and commodity markets, convergence of legal systems, an open exchange of ideas and information are the driving forces of the convergence of basic systems of corporate governance. However the convergence does not imply the unification of institutional environment and national institutions of corporate governance.

Can trust become a factor of economic growth? Dynamic changes in the level of trust of Russian youth

2020 ◽  
pp. 92-107 ◽  
Author(s):  
A. I. Bakhtigaraeva ◽  
A. A. Stavinskaya
Keyword(s):  
Institutional Environment ◽  
Negative Effects ◽  
Dynamic Changes ◽  
Generalized Trust ◽  
Level Of Education ◽  
Advantages And Disadvantages ◽  
The Future ◽  
Analysis Of Dynamics

The article considers the role of trust in the economy, the mechanisms of its accumulation and the possibility of using it as one of the growth factors in the future. The advantages and disadvantages of measuring the level of generalized trust using two alternative questions — about trusting people in general and trusting strangers — are analyzed. The results of the analysis of dynamics of the level of generalized trust among Russian youth, obtained within the study of the Institute for National Projects in 10 regions of Russia, are presented. It is shown that there are no significant changes in trust in people in general during the study at university. At the same time, the level of trust in strangers falls, which can negatively affect the level of trust in the country as a whole, and as a result have negative effects on the development of the economy in the future. Possible causes of the observed trends and the role of universities are discussed. Also the question about the connection between the level of education and generalized trust in countries with different quality of the institutional environment is raised.

Institutions as the Ordering Factor and as the Destabilizing Force: New Institutional and Post Keynesian Perspectives

2006 ◽  
pp. 102-118 ◽  
Author(s):  
A. Skorobogatov
Keyword(s):  
Economic Policy ◽  
Business Cycles ◽  
Institutional Theory ◽  
Institutional Environment ◽  
Institutional Arrangements ◽  
Economic Stability ◽  
Forward Contracts

The paper is dedicated to the New Institutional and Post Keynesian perspectives on institutions and their relation to economic stability. Embeddedness, institutional environment, and institutional arrangements are considered. Within these institutions conventional expectations, the economic policy and forward contracts are analyzed. Upon these perspectives the author shows a contradictory relation between institutions and the order and develops an institutional theory of business cycles.

"Investor Myopia" in Post Keynesian Theory and in the Russian Economy

2006 ◽  
pp. 71-82 ◽  
Author(s):  
I. Rozmainsky
Keyword(s):  
Endogenous Growth ◽  
Institutional Economics ◽  
Institutional Environment ◽  
Transitional Economy ◽  
Transition Economics ◽  
Keynesian Economics ◽  
Russian Economy ◽  
Fundamental Uncertainty ◽  
High Degree ◽  
Negative Growth

The article examines the issues concerning links between institutional economics, Post Keynesian economics, models of endogenous growth and transition economics. The author considers interrelations between ineffective institutional environment, too high degree of fundamental uncertainty, investor myopia and resulting decrease in investment and "negative" growth in Russia’s transitional economy.

Economic State and Institutional Environment of Russian Industrial Enterprises: The Empirical Analysis of Interrelations

2005 ◽  
pp. 67-86 ◽  
Author(s):  
G. Kleiner ◽  
R. Kachalov ◽  
E. Sushko
Keyword(s):  
Institutional Environment ◽  
Negative Influence ◽  
The State ◽  
Industrial Enterprises ◽  
Strategic Approach ◽  
Market Situation ◽  
Economic State ◽  
Essential Heterogeneity ◽  
The Empirical Analysis ◽  
Weak Influence

The paper presents the analysis of the data received from the survey of heads of industrial enterprises and also experts-researchers in 2003-2004. The data describe the economic state of enterprises and their position in competitive, administrative, intermediary, financial etc. environment. The assumption of essential heterogeneity of the set of industrial enterprises, including enterprises of the same sector or the same territorial formation is confirmed. It is shown that Russian industrial enterprises as a rule do not feel influence of the stock market situation while the condition of the currency market influences the majority of enterprises. The sensitivity of enterprises depends on their economic situation: the better is the state, the stronger is the influence. Weak influence of the investment and administrative environment on the state of enterprises and negative influence of the activity of intermediary organizations are registered. More than 2/3 of the respondents consider important strengthening of the responsibility of large proprietors for inefficient activity of their enterprises. Lack of the strategic approach in the activity of authorities of all levels is ascertained and the necessity of development and realization of industrial policy at all administrative levels, including the municipal one, is shown.

Transactions in science in comparative perspective

2018 ◽  
pp. 52-69
Author(s):  
A. N. Oleinik
Keyword(s):  
Transaction Costs ◽  
Academic Freedom ◽  
North American ◽  
Institutional Environment ◽  
Scientific Productivity ◽  
Institutional Environments ◽  
Academic Administrator ◽  
The North ◽  
American Case ◽  
Transactional Approach

The article develops a transactional approach to studying science. Two concepts play a particularly important role: the institutional environment of science and scientific transaction. As an example, the North-American and Russian institutional environments of science are compared. It is shown that structures of scientific transactions (between peers, between the scholar and the academic administrator, between the professor and the student), transaction costs and the scope of academic freedom differ in these two cases. Transaction costs are non-zero in both cases, however. At the same time, it is hypothesized that a greater scope of academic freedom in the North American case may be a factor contributing to a higher scientific productivity.

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