Leviathan as a Minority Shareholder: Firm-Level Implications of State Equity Purchases

By Carlos Inoue, Sérgio Giovanetti Lazzarini, Aldo Musacchio. 2013

300 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/e4ee281d0702dd24877ddb0508b9825aa4f86ab7

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Citations in the corpus

An anatomy of state control in the globalization of state-owned enterprises (2015, methodology): “…in the first step (Cui & Jiang, 2012; Musacchio & Lazzarini, 2012) and replace it with the dummy variable State Ultimate Control in the second step (Inoue et al., 2013; Musacchio & Lazzarini, 2012) as the key independent variable because the state’s direct ownership is diluted following overseas…”
What Do State-Owned Development Banks Do? Evidence from BNDES, 2002–09 (2015, background): “Second, Inoue et al. (2013), comparing direct and indirect stakes, report that the most consistent performance effects of BNDES equity comes from direct ownership.”
State-owned Enterprises Around the WORLD as Hybrid Organizations (2015, methodology): “Some hybrid SOEs, such as Brazil’s Petrobras and Vale, experience high levels of government ownership but are largely independent in their operations (Inoue et al., 2013).”
Political tie heterogeneity and the impact of adverse shocks on firm value (2015, unknown): “…political actors and organizational linkages to political regimes help create a virtuous circle of favour and resource exchanges, translating into higher firm value through preferential regulatory policies (e.g., Bonardi et al., 2006; Fang et al., 2015) and financial resources (Inoue et al., 2013).”
State capitalism in international context: Varieties and variations (2020, background): “Others have suggested that governments can productively direct financial resources to help firms with financial constraints and untapped opportunities, or to bail out firms that made past bad decisions (Inoue, Lazzarini, & Musacchio, 2013).”
State capitalism(s) redux? Theories, tensions, controversies (2020, background): “SOEs have become ‘hybrid organizations’ (Bruton et al., 2015), where states own majority or minority equity positions in firms, or what has been termed ‘partial state ownership’ (Inoue et al., 2013).”
State Ownership and Firm Innovation in China: An Integrated View of Institutional and Efficiency Logics (2017, background): “…theory, state ownership is incompatible with innovation (Shleifer, 1998; Ramaswamy, 2001), but it overlooks the resource advantage that state ownership brings to overcome the institutional voids in emerging economies (Inoue, Lazzarini, and Musacchio, 2013; Musacchio, Lazzarini, and Aguilera, 2015).”