In strange company: the puzzle of private investment in state-controlled firms

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dc.contributor.authorPargendler, Mariana
dc.contributor.authorMusacchio, Aldo
dc.contributor.authorSERGIO GIOVANETTI LAZZARINI
dc.coverage.cidadeNão informadopt_BR
dc.coverage.paisNão Informadopt_BR
dc.creatorPargendler, Mariana
dc.creatorMusacchio, Aldo
dc.date.accessioned2022-10-11T21:36:07Z
dc.date.available2022-10-11T21:36:07Z
dc.date.issued2013
dc.description.otherA large legal and economic literature describes how state-owned enter prises (“SOEs”) suffer from a variety of agency and political problems. Less theory and evidence, however, have been generated about the reasons why state-owned enterprises listed in stock markets manage to attract investors to buy their shares (and bonds). In this Article, we examine this apparent puzzle and develop a theory of how legal and extralegal factors allow mixed enterprises to solve some of these problems. We then use three detailed case studies of state-owned oil companies— Brazil’s Petrobras, Norway’s Statoil, and Mexico’s Pemex— to examine how our theory fares in practice. Overall, we show how mixed enterprises have made progress to solve some of their agency problems, even as government intervention persists as the biggest threat to private minority shareholders in these firms.pt_BR
dc.format.extentp. 569-640pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/4250
dc.identifier.volume46pt_BR
dc.language.isoInglêspt_BR
dc.publisherNão informadopt_BR
dc.relation.ispartofCornell International Law Journalpt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsNão informadopt_BR
dc.titleIn strange company: the puzzle of private investment in state-controlled firmspt_BR
dc.typejournal article
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublication4ee022f9-7466-405d-ae1a-6b1e33f611e8
relation.isAuthorOfPublication.latestForDiscovery4ee022f9-7466-405d-ae1a-6b1e33f611e8
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