Quality of institutions and productivity of State-Invested Enterprises…
...International evidence from major telecom companies, Castelnovo, P., Del Bo, C. F., & Florio, M. (2019). European Journal of Political Economy, 58, 102-117.
The quality of institutions is at the core of the differences in the growth of income and productivity of nations. A growing body of evidence shows how this is also true at the firm level. After taking stock of earlier theoretical and empirical literature on the efficiency of state-owned versus private enterprises, while we consider ownership as the core internal governance mechanism of firms, we add quality of government as a determinant of the external institutional environment. To disentangle the effect of internal and external institutions on firms’ productivity, we use different sets of ownership and institutional environment indicators […]
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