We propose a simple theoretical model for how company with both private and state shareholders decides on its optimal tax policy. The predicts that even in the absence of shareholding, will not always pick policy minimizes taxes. Conversely, majority ownership generally result zero avoidance. Using panel regressions entire population state-owned as well publicly listed Swedish companies from 20...

We consider a general deterministic infinite horizon optimization problem over discrete time with time-varying, i.e., non-stationary, data. Our formulation requires only that action spaces be compact, including both continuous and discrete controls. In the event that all total costs diverge, i.e., no least total cost optimum exists, we investigate the existence of efficient optima. (An infinite...

It seems that privatization in South Africa is politically contentious. This is probably a common feature of most such projects around the world. (Perhaps the main exception is in some of the countries of the former Soviet empire, where an obvious distrust of the state’s exploitative power meant that privatization was politically extremely popular.) However, what is also a common experience is ...

This paper examines the impact that state ownership has on the financial reporting practices of publicly traded firms. Using a unique sample of listed Chinese firms ultimately controlled by local and/or provincial government entities, we test the proposition that the incentives of the underlying government and the structure of the state’s ownership shape financial reporting practices. We find t...

OBJECTIVES We investigated how state-level firearms legislation is associated with firearm ownership and storage among families with preschool-aged children. METHODS Using 2005 nationally representative data from the Early Childhood Longitudinal Study-Birth Cohort (n = 8100), we conducted multinomial regression models to examine the associations between state-level firearms legislation genera...

: In recent years, privatization has become common across Africa, reversing the long-term growth in state ownership of business enterprises. Many have interpreted this as entailing the abandonment of the developmental objectives that state enterprises were established to pursue. Others, however, have suggested that the privatization process can itself provide a new means through which the same ...

: In recent years, privatization has become common across Africa, reversing the long-term growth in state ownership of business enterprises. Many have interpreted this as entailing the abandonment of the developmental objectives that state enterprises were established to pursue. Others, however, have suggested that the privatization process can itself provide a new means through which the same ...

China has experimented with two strategies of reform of its state-owned enterprises (SOE). One is diversification of SOEs’ ownership through introducing non-state sources of investment. Another is to improve the management of SOEs by granting SOEs’ managers autonomy and their employees profit incentives. Utilising a data set on 680 SOEs over 1980-94, we tested the relative effectiveness of two ...

There are two schools of thoughts on the important issue of reforming state-owned enterprises (SOEs). We call them the ownership school and the management school. The ownership school argues that the key to the reform is to diversify SOEs’ ownership, including privatization, in order to eliminate government control of SOEs. The management school emphasizes the need to improve government’s manag...