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Investment behaviour, corporate control, and private benefits of control: Evidence from a survey of Ukrainian firms

dc.contributor.authorMykhayliv, Dariya*
dc.contributor.authorZauner, K.G.*
dc.date.accessioned2017-02-02T12:14:33Z
dc.date.available2017-02-02T12:14:33Z
dc.date.issued2015
dc.identifier.citationMykhayliv D and Zauner KG (2015) Investment behaviour, corporate control, and private benefits of control: Evidence from a survey of Ukrainian firms. Bulletin of Economic Research. 67(4): 309-323.en_US
dc.identifier.urihttp://hdl.handle.net/10454/11239
dc.descriptionNo
dc.description.abstractWe analyse the impact of ownership and corporate control on firms’ investment using the 2001survey of Yacoub et al. on Ukrainian firms. The model explains investment by output, financial and soft budget constraints, and corporate control (and ownership) categories potentially enjoying private benefits of control. We find that the corporate control model fits better than the ownership model,a negative relationship between state and employee control and firms’ investment, and evidence forthe presence of soft budget constraints. A negative relationship between firms’ investment and the relative size of non-monetary transactions strengthens the conclusion of private benefits of control impacting investment.en_US
dc.language.isoenen_US
dc.subjectCorporate control
dc.subjectFirm performance
dc.subjectInvestment
dc.subjectUkraine
dc.subjectOwnership structure
dc.subjectPrivate benefits of control
dc.subjectSoft budget constraints
dc.subjectTransition
dc.titleInvestment behaviour, corporate control, and private benefits of control: Evidence from a survey of Ukrainian firmsen_US
dc.status.refereedYes
dc.typeArticle
dc.type.versionNo full-text in the repository
dc.identifier.doihttps://doi.org/10.1111/boer.12001
dc.openaccess.statusclosedAccess


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