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Ownership Structure and Obstacle to Finance under Control of Institutional Environment and Bond Market Development
P. 1926–1938.
In press
We study the relationship between SMS (small medium size) firm ownership structure and obstacle to finance. The empirical research considers both the concentration of the company's ownership (controlling owner) and the presence of foreign participants in the equity capital. Our aim is to identify those determinants of financial markets (bond market development), legal institutions and firms characteristics in the transition economies of the post soviet countries that can be considered as barriers to attracting financial resources. This paper sheds light on large shareholders’ influence on obstacle to finance.
Publication based on the results of:
In book
Milan: International Business Information Management Association (IBIMA), 2018.
Churakova I., Nazarova V., Journal of Corporate Finance Research 2026 Vol. 20 No. 1 P. 86–99
This paper presents an empirical analysis based on the correlation between ESG performance and cost of equity capital of listed companies in mainland China and Hong Kong, China from 2018 to 2022. The final empirical results of the study show that there is a negative correlation between ESG performance and cost of equity capital in ...
Added: May 3, 2026
Yudina M., Ярыгина И., Четти К. et al., Finance: Theory and Practice 2026 Vol. 30 No. 1 P. 103–119
The paper is a result of a comprehensive and systematic approach to reviewing the growing opportunities for BRICS countries in introducing artificial intelligence into a mutual financial platform. The subject of the study is the AI as a factor of BRICS cooperation and its growth in finance. The purpose of the study is to identify measures that stimulate the ...
Added: March 31, 2026
Zhilkin A., Московский журнал международного права 2025 No. 3 P. 102–118
INTRODUCTION. This article examines the monitoring of human rights compliance in the European Union’s Generalised Scheme of Preferences (hereinafter GSP) programmes. It aims to analyse how the European Union (hereinafter EU) uses trade preferences as leverage to promote human rights in developing countries, with a particular focus on the effectiveness of monitoring mechanisms and withdrawal ...
Added: May 14, 2025
Maksimov A. G., Telezhkina M., / NRU Higher School of Economics. Series EC "Economics". 2024. No. 271.
The paper examines similarity of models with structural changes among heterogeneous panel data units. We propose applying a cosine metric to compare angles between vectors of weighted coefficients as a measure of closeness of economic models. Testing whether the cosine metric value is zero against nonzero, positive, and negative alternatives enriches traditional testing results. The ...
Added: March 10, 2025
Rodionova Y., Balaeva O., Yakovlev A. A. et al., International Journal of Public Administration 2026 Vol. 49 No. 1 P. 1–13
This paper examines the role of enforcement institutions and public procurement efficiency in two transition economies. Based on a survey of suppliers in Kazakhstan and Russia, the analysis reveals significant differences in public procurement efficiency assessments. Kazakhstani suppliers, on average, evaluate public procurement efficiency lower and report a higher number of procurement problems. These differences can ...
Added: January 28, 2025
Elsayed A., Alina Shirshikova, Journal of Development Economics 2023 Vol. 163 Article 103101
We examine the effects of the large-scale construction of public universities in Egypt during the 1960s and 1970s. We found that opening a local university increased the likelihood of obtaining higher education degrees and had long-lasting positive effects on labor market and marriage outcomes, particularly for women. We give insights on internal migration as a channel ...
Added: November 5, 2024
Rücker Schaeffer P., Brandão Fischer B., Queiroz S. et al., Science and Public Policy 2024 Vol. 51 No. 1 P. 108–126
Entrepreneurial universities have become a key concept in debates concerning regional economic development. Yet, we still fall short of having a clear comprehension of the enablers of such localized impacts arising from academic activity. Such conditions are particularly critical for the context of developing countries, which have mostly mimicked initiatives taking place in the context ...
Added: September 17, 2024
Zaiane S., Dabbou H., Journal of Economic Studies 2023
Added: September 16, 2024
Zaiane S., Dabbou H., Imen Gallali M., EuroMed Journal of Business 2023
Added: September 16, 2024
Berezinets I., Muravyev A., Russian Management Journal 2024 Vol. 22 No. 2 P. 193–222
Purpose: This article aims to provide new evidence on the role of several potential drivers of corporate disclosure that have been insufficiently studied or remain controversial in the literature on accounting and corporate governance such as one-tier vs. two-tier corporate boards, having grey directors on the board, direct vs. indirect government ownership and the ownership stake of second-largest shareholders. ...
Added: September 10, 2024
De Moraes Silva D. R., Vonortas N., Furtado A. T., Science and Public Policy 2023 Vol. 50 No. 4 P. 633–654
This article investigates the effect of financial and non-financial barriers on innovativeness. Using microdata from Brazil, it provides a rare detailed empirical investigation of this type in developing countries. The analysis is based on a novel conceptual framework of the moderating role of barriers to innovation. Research and development expenditure and informal methods of intellectual ...
Added: October 13, 2023
Aparecido-Tomaz P., Fischer B., Meissner D. et al., Foresight and STI Governance 2022 Vol. 16 No. 4 P. 59–69
This research aims at addressing the factors that constrain the flow of knowledge between universities and industry when these players are embedded in peripheral contexts. A multiple-case study was carried out in order to describe and understand the limitations of universities as agents of innovation in peripheral ecosystems. Twenty-two semi-structured interviews were conducted with the ...
Added: September 13, 2023
Salati Marcondes de Moraesa Schoo G. H., Brandao Fischer B., Guerrero M. et al., Innovations in Education and Teaching International 2023 Vol. 60 No. 1 P. 134–145
The purpose of this article is to evaluate the impact of university ecosystems on entrepreneurial intention and self-efficacy of Brazilian undergraduate students. The empirical exercise relies on Structural Equations Modelling based on data of 468 students from 70 universities across the country. Results indicate that traditional approaches to foment entrepreneurship are less effective than nurturing ...
Added: September 8, 2023
Резникова О. Б., Гахокидзе И. З., Sinitsyn M., Контуры глобальных трансформаций: политика, экономика, право 2022 № 2 С. 33–48
Scenario analysis of world electricity in the long-term perspective within the general context of global economic growth allowed the authors to conclude that perspective dynamics of electricity in the world leading production and consumption centers will be decisively infl uenced by complex and heterogeneous factors, including: fi rst, primary energy resources endowment; second, level and ...
Added: June 23, 2023
Klimov I., Мисютина В. В., Агеев Д. А. et al., М.: ДПК Пресс, 2023.
The study examines the management models of foreign charitable foundations that are owners of business companies, as well as assumptions about the applicability of such experience in Russian practice. ...
Added: April 21, 2023
Göçer İ., Akın T., Alatas S., Theoretical and Applied Economics 2016 Vol. 23 No. 2 P. 157–172
In this study, the effect of saving-investment gap on economic growth was analyzed on sample of 65 developing countries for 1981-2014 period. Firstly, these countries were categorized into sub-groups according to their saving-investment gap data by using clustering analysis. Then, panel unit root were performed for each cluster and overall panel, and panel coefficients were ...
Added: September 27, 2022
Teplova T., Sokolova T., Gubareva M. et al., Complexity 2022 Vol. 2022 Article 3295364
The role of sustainable development in the export intensity of small and medium-size enterprises (SMEs) represents an open research question. We consider sustainable development through the environmental, social, and governance (ESG) dimensions as well as via firms’ innovative activity indicators. Our objective is to reveal the sustainability determinants of export intensity of SMEs in emerging ...
Added: September 4, 2022