State Ownership and Debt Structure

2021 ◽  
Vol 1 (1-2) ◽  
pp. 223-257
Author(s):  
Narjess Boubakri ◽  
Ruiyuan Chen ◽  
Sadok El Ghoul ◽  
Omrane Guedhami
Keyword(s):  
State Ownership ◽  
Debt Structure

State Ownership and Debt Structure

2021 ◽  
Author(s):  
Narjess Boubakri ◽  
Ruiyuan Chen ◽  
Sadok El Ghoul ◽  
Omrane Guedhami
Keyword(s):  
State Ownership ◽  
Debt Structure

State Ownership and Debt Choice: Evidence from Privatization

2018 ◽  
Vol 54 (3) ◽  
pp. 1313-1346 ◽  
Author(s):  
Narjess Boubakri ◽  
Walid Saffar
Keyword(s):  
Bank Lending ◽  
Budget Constraint ◽  
State Ownership ◽  
Bank Debt ◽  
Soft Budget Constraint ◽  
Government Ownership ◽  
Debt Structure ◽  
Privatized Firms ◽  
High Government ◽  
Additional Support

Using a large sample of privatized firms, we find that state ownership is significantly positively associated with the use of bank debt financing, suggesting that privatized firms benefit from the soft budget constraint associated with state ownership. We further find that the relation is more pronounced in countries with high government ownership of banks, high corruption in bank lending, a left-oriented government, and a collectivist national culture, which provides additional support for the soft-budget-constraint view. Finally, in external validity tests, we find that state ownership affects other aspects of debt structure, such as debt maturity and debt security.

Syed Nawab Haider Naqvi, Mahmood Hasan Khan and M. Ghaffu Otaudhry (edt.). LaJld Reforms in Pakistan, A Historical Perspective. Islamabad: Pakistan Institute of Development Economics 1987. viii+216 pp.Price: Rs 220 (USS 35) for hardcover; Rs 140.00 (USS 20) for soft-cover.

1988 ◽  
Vol 27 (2) ◽  
pp. 217-218
Author(s):  
Luther Tweeten
Keyword(s):  
Land Tenure ◽  
Land Reform ◽  
State Ownership ◽  
Land Reforms ◽  
Policy Makers ◽  
Rural Pakistan ◽  
The Status ◽  
Land Tenure System ◽  
Ownership Of Land ◽  
High Degree

The authors describe how Pakistan has grappled with land reform, surely one of the most intractable and divisive issues facing agriculture anywhere. The land-tenure system at independence in 1947 included a high degree of land ownership concentration, absentee landlordism, insecurity of tenant tenure, and excessive rent. Land reform since 1947 focused on imposition of ceilings on landholding, distribution of land to landless tenants and small owners, and readjustments of contracts to improve the position of the tenant. These reformist measures have removed some but by no means all of the undesirable characteristics of the system. The authors list as well as present a critique of the reports of five official committees and commissions on land reform. The reports highlight the conflicts and ideologies of the reformers. The predominant ideal of the land reformers is a system of peasant proprietorship although some reformers favoured other systems such as communal farming and state ownership of land, and still others favoured cash rents over share rents. More pragmatic reformers recognized that tenancy is likely to be with Pakistan for the foreseeable future and that the batai (sharecropping) arrangement is the most workable system. According to the editors, the batai system can work to the advantage of landlord and tenant if the ceilings on landholding can be sufficiently lowered (and enforced), the security of the tenant is ensured, and the tenant has recourse to the courts for adjudication of disputes with landlords. Many policy-makers in Pakistan have come to accept that position but intervention by the State to realize the ideal has been slow. The editors conclude that" ... the end result of these land reforms is that they have not succeeded in significantly changing the status quo in rural Pakistan" (p. 29).

OWNERSHIP IN THE REPUBLIC OF MACEDONIA AND THE STATE AS THE HOLDER OF THE PROPERTY RIGHT UNDER THE CONSTITUTION IN 1991

2018 ◽  
Vol 28 (6) ◽  
pp. 1993-2005
Author(s):  
Shemsije Demiri ◽  
Rudina Kaja
Keyword(s):  
Legal Aspect ◽  
State Ownership ◽  
The State ◽  
Point Of View ◽  
State Function ◽  
Dominant Form ◽  
Republic Of Macedonia ◽  
General Terms ◽  
Starting Point ◽  
The Republic

This paper deals with the right to property in general terms from its source in Roman law, which is the starting point for all subsequent legal systems. As a result of this, the acquisition of property rights is handled from the historical point of view, with the inclusion of various local and international literature and studies, as well as the legal aspect devoted to the respective civil codes of the states cited in the paper.Due to such socio-economic developments, state ownership and its ownership function have changed. The state function as owner of property also changed in Macedonia's property law.The new constitutional sequence of the Republic of Macedonia since 1991 became privately owned as a dominant form of ownership, however, state ownership also exists.This process of transforming social property into state or private (dissolves), in Macedonia starts from Yugoslavia through privatization, return and denationalization measures, on which basis laws on privatization have been adopted. Because of this, there will be particularly intensive negotiations regaring the remaining state assets.

Debt Structure Adjustments and Long-run Stock Price Performance

2000 ◽  
Author(s):  
Sudip Datta ◽  
Mai E. Iskandar-Datta ◽  
Kartik Raman
Keyword(s):  
Stock Price ◽  
Debt Structure ◽  
Price Performance ◽  
Long Run

Equity Mispricing and Debt Structure Decisions of Firms

2015 ◽  
Author(s):  
Sujiao (Emma) Zhao ◽  
Patrice C. Fontaine
Keyword(s):  
Debt Structure
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