Haku
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Natural resources and capital structure
(29.08.2016)
BOFIT Discussion Papers 10/2016
BOFIT Discussion Papers 10/2016
This paper examines the effect of natural resources on capital structure of the firm. Using an extensive dataset of listed firms in 70 countries, we show that firms operating in resource extraction industries have less ...
Bureaucrats as successor CEOs
(28.09.2016)
BOFIT Discussion Papers 13/2016
BOFIT Discussion Papers 13/2016
Chinese companies sometimes appoint a government official (bureaucrat) as CEO on the expectation of benefiting from the political connections of the new hire. Based on a sample of 2,454 CEO transitions our empirical findings ...