We study the implications of CEO equity ownership for incentives and control in a sample of 1,011 newly public firms. Before an initial public offering, equity investments by venture capitalists reduce CEO ownership by about half, from an average of 35 percent to 19 percent. Venture capitalists narrow this difference by granting options, reducing secondary sales, and lowering the dilution by pr...

Ecological models are a fundamental tool that archaeologists use to clarify our thinking about the processes that generate the archaeological record. Typically, arguments reasoned from a single model are bolstered by observing the consistency of ethnographic data with the argument. This validation of a model establishes that an argument is reasonable. In this paper, we attempt to move beyond va...

The relationship between broadcast TV stations’ ownership characteristics and the quantity of news and public affairs programming they provided is examined, based on the scheduled programming of almost all full power broadcast TV stations for two weeks a year for the four-year period 2002 to 2005. Using a three-way group fixed effects model to control for unobserved market-specific, broadcast n...

This paper reviews recent empirical evidence on the effects of hospital ownership conversions on quality of care and provision of public goods, such as uncompensated care, and presents new results on these topics based on hospital discharge data from the Healthcare Cost and Utilization Project’s (HCUP) Nationwide Inpatient Sample. My analysis of these data reveals that conversion from governmen...

This paper applies a two-stage, double bootstrapping data envelope analysis (DEA) approach to investigate whether and to what extent various distinctive corporate governance practices affect productive efficiency in a sample of 461 publicly listed manufacturing firms in China between 1999 and 2002. We find that firm efficiency is negatively related to state ownership while positively related to...

—The openPC is a set of open source tools that realizes a parallel machine and distributed computing environment divisible into several independent blocks of nodes, and each of them is remotely but fully in any means accessible for users with a full ownership policy. The openPC components address fundamental issues relating to security, resource access, resource allocation, compatibilities with...

This paper provides a discussion of issues relating to public places, urban planning and community crime prevention. The first part of the paper examines the social nature of public space from the point of view of ownership, uses and users, urban design and regulation. The second part of the paper explores the application of crime prevention approaches and techniques to the planning and managem...

During the past two years, Chinese joint-stock companies have been converting nontradable stock held by the state and state-controlled institutions, which constitute twothirds of all stock in Chinese firms, into stock that can trade on local exchanges. This ownership reform reduces direct state control over industrial enterprises. It also greatly increases the supply of stock, which threatens t...