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Promarket reforms and firm profitability in developing countries

Cuervo-Cazurra, Alvaro - ; Dau, Luis Alfonso - ;

This study proposes that promarket reforms positively affect firms' profitability in developing countries because the accompanying improvements in external monitoring decrease firms' agency costs. We also argue that firms benefit unequally from promarket reforms because their agency problems are affected differently, proposing that promarket reforms improve profitability more for domestic state-owned and domestic private firms than for subsidiaries of foreign firms. Analyses of the 500 largest firms in Latin America from 1989 to 2005 support the arguments, suggesting that, contrary to the views of many critics of globalization, domestic firms are the main beneficiaries of promarket reforms in developing countries.Printed journal


Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit: Academy of Management
Edisi-
SubjekDeveloping countries
Profitability
Economic reform
Correlation analysis
Public enterprise
studies
LDCs
ISBN/ISSN14273
Klasifikasi-
Deskripsi Fisik-
Info Detail Spesifik-
Other Version/RelatedTidak tersedia versi lain
Lampiran BerkasTidak Ada Data

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