Does state ownership really matter for capital structure in selected G-20 economies?

Amin, Muhammad Yusuf; Besim, Mustafa; Haq, Zahoor Ul

doi:10.1080/1331677x.2019.1661000

Cited by 9 publications

(6 citation statements)

References 44 publications

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“…For instance, in state-owned enterprises, unsuccessful scenarios and courses of action may be salvaged by government accessing the taxpayers' money, where authorities are accountable for preventing the bankruptcy, whereas private enterprises are expected to be more self-sufficient. The idea that governments are responsible for mitigating risks and providing efficient solutions given specific probabilities and impacts of risk [45].…”

Section: Networked Structurementioning

confidence: 99%

Sustaining Enterprise Operations and Productivity during the COVID-19 Pandemic: “Enterprise Effectiveness and Sustainability Model”

et al. 2020

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The research explores key factors impacting enterprise operational sustainability and the ability to transcend adversity during different stages of a crisis, such as the COVID-19 pandemic. The current study draws from the Theory of Crisis Management Teams, the Stakeholder Theory, and the Distributed Cognition Theory to build an “Enterprise Effectiveness and Sustainability Model during Pandemic.” Existing theoretical background joint with contemporary success case studies helped to identify the essential aspects and strategies enterprises should employ to survive and thrive during crisis and post-crisis. We have conceptualized an innovative approach to COVID-19 from the perspective of organizational characteristics, operations, digital transformation, and financial planning. The findings suggest that enterprises having distributed leadership, workforce and adaptive culture sustain business operations during a pandemic. Furthermore, resilient enterprises allow for more informed and decentralized decision-making. Prosperous organizations leverage Internet and Communication Technology (ICT) and integrate Intranet, social media, and online communication platforms into their daily business routines, as this helps to establish trust and build bonds with employees, stakeholders, and customers during and post-crisis. Finally, balancing between the stockpiling of resources and resiliency is crucial in anticipation of a crisis. Therefore, we conclude that enterprises with financial contingency plans sustain their business operations during a pandemic.

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Section: Networked Structurementioning

confidence: 99%

Sustaining Enterprise Operations and Productivity during the COVID-19 Pandemic: “Enterprise Effectiveness and Sustainability Model”

et al. 2020

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“…Furthermore, Cai et al (2008) argue that the government financially supports some big Chinese firms. Therefore, state-owned enterprises (S.O.E.s) have larger leverage compared to others (Amin, Besim, & Haq, 2019). We are expecting that S.O.E.s in China are probably financially supported by government bodies in case of financial matters, so, they are less financially constrained than non-state-owned enterprises (N.S.O.E.s).…”

Section: Moderating Effect Of Short-term Debtmentioning

confidence: 99%

Debt capacity, debt choice, and underinvestment problem: Evidence from China

Bhat

Chen

et al. 2020

Economic Research-Ekonomska Istraživanja

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This study investigates how short-term debt and debt capacity help firms to make efficient financing decisions and reduce underinvestment problem. The sample includes Chinese nonfinancial firms listed on the Shanghai and Shenzhen Stock Exchanges over the period 2007 to 2017. The findings indicate that short-term debt is positively related to leverage. The results also indicate that growth positively influences leverage. The results further show that short-term debt enhances the positive impact of growth on leverage. These findings reveal that short-term debt makes firms financially flexible, and allows them to obtain more cost-effective debt by repricing and renegotiation of debt contracts in the presence of valuable growth opportunities. Furthermore, the results illustrate that debt capacity is positively associated with leverage, suggesting that debt capacity helps firms to have an easy access to the credit market and reduce liquidity risk. Overall, the findings remain consistent across different types of firms (state-owned [S.O.E.] and non-state-owned enterprises [N.S.O.E.]) and by considering alternative proxy of growth.

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“…Motivated by prior studies ([ 7 , 61 , 62 ]), we examine the relationship between SWF investments, capital structure and firm performance, we run Eqn. (1) and Eqn.…”

Section: Data Sample and Methodologymentioning

confidence: 99%

Sovereign wealth fund investments and financial performance of target firms: The disciplinary role of debt in political agenda theory

Rasheed¹,

Adeneye²,

Kosnin³

2023

Heliyon

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Does state ownership really matter for capital structure in selected G-20 economies?

Cited by 9 publications

References 44 publications

Sustaining Enterprise Operations and Productivity during the COVID-19 Pandemic: “Enterprise Effectiveness and Sustainability Model”

Sustaining Enterprise Operations and Productivity during the COVID-19 Pandemic: “Enterprise Effectiveness and Sustainability Model”

Debt capacity, debt choice, and underinvestment problem: Evidence from China

Sovereign wealth fund investments and financial performance of target firms: The disciplinary role of debt in political agenda theory

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