Dissertations / Theses: 'Government ownership'

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Borisova, G., V. Fotak, K. Holland, and W. L. Megginson. "Government ownership and the cost of debt : evidence from government investments in publicly traded firms." Thesis, Ukrainian Academy of Banking of the National Bank of Ukraine, 2012. http://essuir.sumdu.edu.ua/handle/123456789/63233.

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Contrary to public perceptions and despite the worldwide success of state privatizations, over the past decade governments have acquired more assets through stock purchases (US$ 969 billion) than they have sold through share issue privatizations and direct sales (US$ 765 billion). In fact, governments and stateowned entities have been such active stock-market investors that they now own approximately one-fifth of global stock-market capitalization.

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Lam, Kei-yin, and 藍琪諺. "Evaluate the strategy of promotion of home ownership." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B42128614.

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Algahtani, Saeed Nassir. "State Ownership, Firm Specific Risk and Momentum Trading." ScholarWorks@UNO, 2019. https://scholarworks.uno.edu/td/2579.

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The dissertation consists of two essays. In the first essay, we investigate the relation of government ownership to the idiosyncratic volatility of Saudi Arabian firms that traded in the Saudi stock exchange between 2010 and 2016. The results show that publicly traded firms with an increase in government ownership have less idiosyncratic volatility. Furthermore, we investigate market leverage ratio, dividend payout ratio, and illiquidity ratio as potential roles in which government ownership influences the idiosyncratic volatility. The results prove the negative relationship between government ownership and idiosyncratic volatility. In the second essay, we investigate the association between government ownership and momentum trading of firms traded in the Saudi stock exchange between 2010 and 2016. The results show that firms with higher state ownership are expected to have greater price momentum. We used two approaches: the portfolio sorting approach and the fixed effect approach, and these two approaches confirm the positive relationship between government ownership and momentum.

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Yang, Zhi. "Essays on China's collectively-owned enterprises." Click to view the E-thesis via HKUTO, 2008. http://sunzi.lib.hku.hk/hkuto/record/B40687417.

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Asquith, Andrew Richard. "Change management in local government : strategic change agents and organisational ownership." Thesis, Birmingham City University, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.385165.

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This thesis analyses strategic change management in English local government and suggests the most appropriate leadership and management approaches for achieving successful organisational change. Using a model of organic evolution, the research identifies and analyses three distinctive stages in the development of management systems and practices in local government. These stages can be identified as: traditional, corporate and strategic approaches. A sample of eight local authorities representing two from each of the major English authority types was selected. Extensive qualitative research enabled the classification of the authorities using the following typology: namely transactional, community leadership and business culture. Each type is representative of one of the three evolutionary stages. With reference to each of the identified three stages of evolutionary development, the role of the chief executive in each of the authorities in successfully managing change was assessed. The purpose is to establish which management type provided the most effective change management environment. This assessment took place on two levels. Firstly, the qualitative research addressed the perceptions of the chief executives' change management agenda on the part of the strategic actors on both sides of the managerial/political interface within each authority. They were identified as the chief executive, the chief officers and the leading elected members. These perceptions were then used to develop the management typology noted above. Following the development of the management typology, an extensive survey of the attitudes of both middle managers and street-level operatives towards the change management process was conducted in the eight local authorities. This quantitative research revealed the perceptions of those individuals on whom change has the greatest impact. Following the analysis of the data generated by both the qualitative and quantitative research, the most effective leadership and change management strategies for local government in England are suggested. The conclusion is therefore that the most effective model for change management for local government is a hybrid organisation combining strengths from two of the evolutionary management stages.

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Chan, Po-wah. "A change in government role in welfare housing and home ownership : a comparative study of China and Hong Kong /." View the Table of Contents & Abstract, 2007. http://sunzi.lib.hku.hk/hkuto/record/B40697897.

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Ng, Kar-wai, and 吳家慧. "A comparison of home ownership policies in Singapore and Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/207658.

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Since the 1960s, as a result of the rapid and outstanding economic growth and industrialization, Hong Kong and Singapore, the two city-states in Asia, were named Asian Dragons among other Asian countries. Historically, both city-states were British colonies, and thus, they both shared similarities in the develop stage of the city in social, economic and political context. In the housing sectors, both city-states have also launched massive subsidized housing programme to facilitate their rapidly growth population with provision of affordable subsidized housing. To assist more residents to become home owners, a series of housing assistance programmes were implemented periodically to help the low and middle income households to climb up to the housing ladder. Despite that the government of Singapore and Hong Kong has implemented similar housing policies approach to their citizens in the beginning stage; yet, as at today, a different achievement in home ownership rate was resulted mainly due to different ruling of governance. This dissertation will first review the home ownership policies of Hong Kong and Singapore in social, economic and political context. In Chapter 5, evaluation on the effectiveness in the subsidized housing supply, land supply, control of affordability of both city-states will be critically discussed and explained why different home ownership rate of Singapore and Hong Kong was achieved. To make this dissertation more fruitful, in Chapter 6, in-depth interviews with Legco members, scholar and graduated students who have profound knowledge in the housing sector would be discussed and analyzed. Last but not least, political obstacles of Hong Kong would be explained in comparing with Singapore in the final chapter. Recommendation on which part of the housing policies of Hong Kong can be learnt from Singapore will be debated from the result drawn from the key findings and the analysis from the in-depth interviews from the previous chapters.
published_or_final_version
Housing Management
Master
Master of Housing Management

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Tsang, Chin-pang, and 曾展鵬. "Can Hong Kong draw lessons from the home ownership policy of Singapore?" Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/207645.

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This study aims to explore the home ownership policy drawing from Singapore to Hong Kong. It does so by reviewing the concept of policy drawing, and by analyzing 4 dimensions, namely, 1) use of provident fund for home purchase; 2) development of new town to increase housing supply; 3) land reclamation and land acquisition to increase home ownership; and 4) role of governments in promotion of home ownership via literature review and interviews. Based on the analysis, it is found that Hong Kong can partially draw the lessons from the home ownership policy of Singapore. For example, the use of provident fund for home purchase and the technique on the development of new town to increase housing supply can likely be drawn by Hong Kong. Rather, the techniques on land reclamation and land acquisition, and the achievement of universal home ownership cannot be drawn by Hong Kong. Although the first two dimensions can be drawn by Hong Kong, it is difficult to implement in Hong Kong due to the difference in policy environment between Singapore and Hong Kong. Certain conditions are required to fulfill before implementation of the two dimensions in Hong Kong. In fact, the home ownership policy of Singapore is used for reference only, it should be further modified by the Hong Kong government in order to develop a practicable housing policy which is suitable for the situation in Hong Kong.
published_or_final_version
Housing Management
Master
Master of Housing Management

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So, Wai-yip Bennis. "Elites, bureaucracy, and the policy process in China : a study of the Socialist Transformation of capitalist industry and commerce, 1949-56 /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B17593608.

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Shao, Li. "Corporate governance in China's listed companies ownership structure and market disciplines /." Click to view the E-thesis via HKUTO, 2008. http://sunzi.lib.hku.hk/hkuto/record/B40687533.

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Tookey, Mark Edward. "The Labour Party and nationalisation from Attlee to Wilson, 1945-1968 : beyond the commanding heights." Thesis, Durham University, 2000. http://etheses.dur.ac.uk/4522/.

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The 1964-70 Wilson government has been the subject of intense criticism, yet limited academic study. Attention has focused primarily on its failure to achieve any breakthrough in the application of 'white heat' technology. The effect has been that many important aspects of the government's industrial policies have been ignored. In particular, its commitment to public ownership has received little consideration, despite appearing anomalous compared with the nationalisations of the preceding (and succeeding) Labour governments. Between 1964 and 1970, only iron and steel was brought into public ownership, and that was primarily 'unfinished business' from 1945-51.This thesis determines why the 1964-70 government was so reluctant to use public ownership and, specifically, nationalisation. Firstly, the relationship between public ownership and the Labour party in 1964 is examined. The Attlee government’s experiences with nationalisation and the revision of the party's programme during the 1950s are considered, along with the contribution which Wilson made to that revision. The thesis contends that, by 1964, the party's commitment to public ownership was genuinely different from that in 1945. However, it further asserts that the economic analysis on which it was based had already become outdated by 1964, and encumbered the government with an inappropriate ideological framework. Secondly, the recent release of official papers has made possible a detailed consideration of the 1964-70 government's performance. They reveal that the government pursued a more active public ownership policy than is normally considered by historians. In shipbuilding and aerospace partial nationalisations were undertaken, while more generally interventionist frameworks were established. This thesis concludes that such policies were fatally undermined by the over-commitment of Wilson to sterling parity. Coupled with the shortcomings of the party's ideological framework, this explains both why the 1964-70 government's policies appear anomalous, and why the government continues to be severely criticised.

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Hu, Yongming. "Shi chang jing ji yu chan quan gai ge." Beijing : Zhongguo ren min da xue chu ban she, 1993. http://books.google.com/books?id=_A4yAAAAMAAJ.

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Fung, Kit-wa Doris, and 馮潔華。. "An evaluation of home ownership policies in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1999. http://hub.hku.hk/bib/B3125990X.

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Wang, Kun. "From government to corporation : largest shareholder's change and firm performance /." View Abstract or Full-Text, 2003. http://library.ust.hk/cgi/db/thesis.pl?ACCT%202003%20WANG.

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Dubey, Sunil. "Government Ownership Matters for Social Good: Governance and management of government property assets in Commonwealth Countries - Australia and India." Thesis, The University of Sydney, 2017. http://hdl.handle.net/2123/17132.

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“There is hardly a section of the community that doesn’t in one breath protest undying hostility to the Government Interference and, the next, pray for it” Sir Robert Menzies With unprecedented urban growth, rising urban population and socio economic shifts, the importance of government owned property asset is becoming fundamental to the delivery of basic urban services to the citizenry. This tangible public asset is an integral part of social capital, investment and social good. There is a growing apprehension that developed and developing countries are fast divesting their government property assets to fund infrastructure, hence compromising on delivery of basic urban services. The governments throughout the world are the largest owners of real property assets. Governments at all levels own, manage and control more property assets than many multinationals, landowners and large corporations put together. These real properties form major part of asset portfolios for the governments at all levels but quite often these public assets are seen as ‘liabilities’ due to lack of good governance, transparency and absence of long term property asset management plans. The lack of governance and inadequate management frameworks of government property assets inversely relates to public accountability and administrative risks, including public services degradation, fiscal, economic, environmental, legislative and social losses. These outcomes conversely effect the perceived notion of social good, hence challenges the investment of social capital in the property assets. The growing trend towards outsourcing or selling of government property assets has caused more administrative complexities, lowering of basic urban services and lack of accountabilities due to substantial gaps between governance and management of these property assets. This research analyses trends, policies and practices linking governance of government owned property assets and asset management frameworks. It critically evaluates the essential public policy frameworks and drivers of urban services which are reliant on government ownership of property assets. The research focuses on testing the assertion ‘The better the governance – the better the management’ in government owned property assets through international practices and applied reforms. The assertion leads to efficient and sustainable management of public assets, thus creating greater value of ‘social return’ by way of investing public funds as ‘social capital’. The history of government property assets, major public property reforms, property asset policies, recent learnings from private sector experiences and international case studies from local government property assets are analysed to develop a conceptual governance framework. Using ‘circles methodology’ for evaluations and benchmarking of government property assets, the research develops key governance, social good, management and exchange indicators for local government property assets in commonwealth countries. The ‘circles methodology’ further assists in developing ‘comparative evaluations’ between selected cities from Australia and India, identifying key policy gaps, public participation, delivery management of basic urban services, strengths and weaknesses of public administrations. This leads to a conceptual city to city learning frameworks that can be established to address the immediate and important need of managing government property assets to deliver better urban services to citizenry in commonwealth countries. The research applies the lenses of ‘clouds of trust’ to further validate that ‘city to city’ learning enables the most effective and advanced environments for learning public management of government property assets at local government levels. It further concludes that substantial lack of open data, absence of property management plans, transparencies and unregulated reforms are adversely affecting the ownerships of government property assets at local government levels, thus requires further research in strengthening the empirical knowledge about government ownerships, their usage to the citizenry and effective returns to the urban societies. In conclusion, this thesis uses the international practices, available public data, case studies and conceptual learning frameworks to endeavour to bring effective public ownership, transparency, long term social good and longevity to the most desirable asset owned by the public – government property assets. ‘Honest disagreement is often a good sign of progress’ Mahatma Gandhi

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Yeung, Che-keung Nelson, and 揚志強. "Shifts in home ownership policy in Hong Kong 1997-2003." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2006. http://hub.hku.hk/bib/B45015715.

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Shao, Li, and 邵丽. "Corporate governance in China's listed companies: ownership structure and market disciplines." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2008. http://hub.hku.hk/bib/B40687533.

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Leung, Pak Chuen. "State ownership and firms' growth performance : the perspective of institutionally shaped agency." HKBU Institutional Repository, 2018. https://repository.hkbu.edu.hk/etd_oa/581.

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Integrating the perspective of agency theory with that of institutional theory, we study how state ownership influences firms' growth performance in a large macro economy such as China's socialist market economy. Focusing on the effects of both internal and external institutional settings on firms' top managers or key agents, we propose a theoretical perspective of institutionally shaped agency. This perspective identifies several factors that shape the behaviours of firm managers or agents, which in turn should affect firms' growth performance. Hence, important predictions are developed based on this theoretical perspective. We propose the relationship between state ownership and firms' growth performance (hereafter the ownership-growth relationship) shall be positive while under certain conditions.. Analysing a set of panel data (N = 37,856) from 124 insurance firms in China during the period from 2005 to 2014, we find results different from prior research. While research in the West has shown that private ownership is generally preferred to state ownership when incentives to innovate and to contain costs are strong (e.g., Shleifer, 1998), we demonstrate that this ownership-growth relationship can be positive, which is contingent upon firm strategy and local institutional settings. Moreover, while research in emerging markets has shown that the effects of state ownership marketization can weaken one dimension of firm performance (e.g., Zhou, Gao, & Zhao, 2017), our findings suggest that both marketization and diversification can enhance the positive effects of state ownership on another dimension of firm performance. Finally, we also find the CEO tenure shall have positive three-way interaction effect of both marketization and diversification on the ownership-growth relationship.

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蘇偉業 and Wai-yip Bennis So. "Elites, bureaucracy, and the policy process in China: a study of the Socialist Transformation of capitalistindustry and commerce, 1949-56." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31214629.

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Erniquez, Andrade Rafael Roberto 1957. "From government management and ownership to professionally managed and publicly traded airport organizations." Thesis, Massachusetts Institute of Technology, 2002. http://hdl.handle.net/1721.1/8379.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2002.
Includes bibliographical references (leaves 127-129).
As a result of the deregulation of the air transport industry in the United States and Europe, and the globalization of the world's economy, governments have being facing important challenges to meet the demands of a growing and changing air transport sector. The participation of private investors and private management in the ownership and operation of airports has become an important element in the effort to satisfy these demands. The flexibility, efficiency, and innovation capabilities provided by a privately managed airport organization are widely accepted. However, the airport privatization movement around the world has being struggling with the problem of resolving the natural conflict between the interests of private investors and those of the public at large. This conflict is exacerbated by the fact that airports, to a greater or lesser extent, are natural monopolies when it comes to services for originating and terminating passengers. Although there is no perfect substitute for a competitive environment, an effective approach is to design and implement an economic regulation mechanism that, on the one hand, makes it possible to achieve the advantages of a privately managed organization, and on the other, protects the public interest. A more democratic stockholders' structure, through a publicly traded and professionally managed organization, can also be very useful in this respect. This thesis begins by presenting a quite detailed overview of the airport privatization movement around the world. Then, it addresses the basic regulatory issues that should be considered in designing and implementing the mechanisms that can facilitate a smooth transfer of airport activities to the private sector. The case of the Southeast Airport Group, as part of the Mexican airport privatization process, is used to illustrate many of these issues. There is some practical evidence to the effect that government regulation at major airports has achieved the objective of protecting airport users from monopolistic pricing of facilities and services. It is, however, important that the future economic regulation addresses objectives that go beyond pricing. These include the proper incentives for making timely investments in increasing airport capacity, as well as ensuring safety, security and an adequate level of service. Although, the events of September 11, 2001 will have a deep impact on the air travel industry, it is expected that the airport privatization movement around the world will manage to sustain its current momentum.
by Rafael Roberto Erniquez Andrade.
S.M.

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Low, Kuan Hong. "Public-private partnerships in defense acquisition programs-defensible?" Thesis, Monterey, California : Naval Postgraduate School, 2009. http://edocs.nps.edu/npspubs/scholarly/theses/2009/Dec/09Dec%5FLow_Kuan.pdf.

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Thesis (M.S. in Business Administration)--Naval Postgraduate School, December 2009.
Thesis Advisor(s): Summers, Don ; San Miguel, Joseph. "December 2009." Description based on title screen as viewed on January 27, 2010. Author(s) subject terms: PPP, public-private partnership, defense contracting, defense contracting, finance, Singapore, U.S., UK, Australia, off-balance sheet Includes bibliographical references (p. 53-61). Also available in print.

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LaBarge, Andrea L. "Hawaii government's role in Japanese ownership of Hawaii hotels, 1970-1990." Thesis, University of Hawaii at Manoa, 2002. http://proquest.umi.com/pqdweb?index=0&did=765044491&SrchMode=1&sid=8&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1208551486&clientId=23440.

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Fong, Kam-wai, and 方錦偉. "A study of the prospect of the home ownership scheme, 1997-2000." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1997. http://hub.hku.hk/bib/B31968247.

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Jian, Wei. "Two essays on earnings management in China." HKBU Institutional Repository, 2011. https://repository.hkbu.edu.hk/etd_ra/1296.

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Hasselgren, Björn. "The Reluctant Infrastructure Manager : 70 Years of Government Ownership of Transport Infrastructure in Sweden." KTH, Urbana och regionala studier, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-123651.

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Governments have a choice whether to intervene in the transport infrastructure sector to manage, finance and organize and sometimes own the assets of the sector or to rely on markets and private sector actors for the provision of these systems. In Sweden, like in most other countries, the government has, since the 19th century, gradually taken a more active role both for railroads and roads, including most of the roles outlined above. From the 1840s, railroads and a more modern road system developed based on a mix of government and private/local government initiatives. A step towards centralization was taken in the 1930-40s, as the private- and local government-owned railroads and rural public roads, a majority of the total system, were taken over (nationalized) by the State. The government still owns these assets. In this paper, the development of railroad and road infrastructure is analyzed based on a co-evolutionary perspective, including the influence of technology, economics and politics. The perspective is used in order to facilitate an understanding and explanation of the successive steps that led to the decision to nationalize railroads and roads. The following time periods up to 2010 are also analyzed with the perspective as a relief. Based on a study primarily of the public documents of the time it is argued that the nationalization can be seen as a more or less logical step in a process of centralization that had been going on since the mid-1800s. Business economics rationality and cost reduction were important arguments for nationalization. Arguments in favor of the nationalization were that it was seen as a modernization of the sector, which also allowed for the introduction of new technology and a reduction of differences in road taxes. Welfare economics reasoning and discussions on natural monopolies were, however, not the focus. It is further argued that the government waited for some time to take the final steps to nationalize the railroads and roads. The government entered the scene as a rather reluctant infrastructure manager. The Parliament’s 1963 decision on transport policy, which is generally seen as among the most important policy decisions in the sector since the 1940s, might, it is argued, have been given a too important role. However, it is argued that the proposals put forward by the 1944 Transport Committee, which were never formally decided upon, were perhaps more influential. These proposals were largely market-friendly within the framework of the government ownership and financing model. The railroad and road systems should be run more or less as private businesses within this framework, with a focus on business economics efficiency, a full cost responsibility, and a competition view on the transport market. The transport policy decision was formally approved in 1963, and it was largely based on the principles of the 1944 Transport Committee. These policies opened for a further restructuring of the transport sector, including transport infrastructure. The road system was expanded, while the railroads contracted, suffering from high costs and a decreasing market. There was, however, a gradually growing criticism towards both the planning practices and new construction programs for the road system, and against the effects the policies seemed to have for the railroad system. The transport polices were changed during the 1970s. The 1979 Parliamentary decision on a revised transport policy brought a formal end to the policies based on market forces, competition and business economics, all of which were features of the 1963 decision. The new management philosophy was based on welfare economics, which should be the new basis for transport infrastructure and transport policies when it came to planning, management and pricing/taxation. An interesting phase in the historical development of transport policy was a return in the 1988 Parliamentary decision to a goal structure closer to the earlier (1963) formulation of transport policies. In a following decision in 1998, another turn was made, which has since established welfare economics as the basis for transport infrastructure policies. The principles set in the 1940s, with a firm base in a “cost responsibility principle” and a business economics perspective on transport infrastructure combined with government ownership and financing, was finally shifted to more of a welfare economics basis during the 1980-90s. This was, it is argued, a way of reflecting a more active political agenda with new goals for transport policy. The policy shift was combined with deregulation and some privatization steps from the 1980s onwards. If the former policies might be seen as expressing a contradiction between government ownership and business economics, the new policies made a contradiction between deregulation and more developed and wider political goals in combination with welfare economics obvious. The government might be seen having gone from reluctance to contradiction as the basic stance of its policies as owner of railroads and roads.

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Paskelian, Ohannes. "Government Ownership, Firm Value and Choice of SEO Methods--- Evidence from Privatized Chinese SOEs." ScholarWorks@UNO, 2006. http://scholarworks.uno.edu/td/1050.

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In 1991, the Chinese government started the privatization process. A distinguishing feature of this privatization process is the presence of the government as a major shareholder in the privatized SOEs which creates a unique ownership structure that affects the firm performance, and, in turns its choice of equity issuing method. This dissertation investigates the relation between ownership structure, firm value, and the choice of equity offering method of the Chinese semi-privatized former state-owned enterprises. The dissertation consists of two essays. The first essay examines this relationship during the period 1993-1998 when the Chinese stock exchanges were at the infancy stage. The second essay covers the period 1999-2003 when the Chinese government crafted many laws to modernize their stock exchanges and protect the investor. In the first essay, we find that firms with higher government ownership under-perform relative to those with lower government ownership and prefer issuing rights offerings. The market reaction to the rights offering is lower than that to the public offering. Finally, the long-term market and operating performance of firms issuing rights offerings is poorer than their matched peer group. In the second essay, we find that 1) firms with higher government ownership have still lower performance than firms with lower government ownership; 2) firms with higher government ownership still use rights offerings as equity issue method; 3) firms with the lowest government ownership issue equity using private placements; 4) the market reaction to the announcement of private placements is positive; and 5) the monitoring action provided by the placement buyer has a positive effect on the long-term performance of the firms issuing private placements. Our results are consistent with previous findings about the effects of government ownership on firm value. Privatized firms with high government ownership do not necessarily maximize firm value; instead the managers are more aligned with the political and social agenda of the government. However, firms with low government ownership and high institutional ownership are more profitable. A major contribution of the dissertation is to establish the linkage between ownership, performance, and the choice of equity methods.

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Ericsson, Emma, and Essen Göran von. "How does government ownership affect the relationship between fair value accounting and earnings quality?" Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-447346.

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This thesis examines the effect government ownership has on the relationship between fair value accounting and earnings quality when “mark-to-model” techniques are used in fair value estimations. To this end we compare 36 real estate companies controlled by private interests with 32 real estate companies controlled by the state and municipal governments in Sweden. We find that the relationship between fair value accounting exposure and aggregated earnings quality is negatively affected by government ownership when unobservable inputs are used in the fair value estimation. Previous research treats government ownership simply as having a first order relationship with earnings quality. Our results indicate determinants of earnings quality can affect one another, and that these effects should be considered.

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Sin, Sai-lun Paul. "Impacts of government intervention on housing market and tenure choices in Hong Kong /." View the Table of Contents & Abstract, 2007. http://sunzi.lib.hku.hk/hkuto/record/B4069821X.

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29

Sung, Yim-ling, and 宋艷伶. "To evaluate the impact of government intervention on housing tenure choice in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2004. http://hub.hku.hk/bib/B30782041.

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(Uncorrected OCR) ABSTRACT In Hong Kong, due to the government's strong intervention in the housing market, the housing subsidy system and rationing on owner-occupation and the public rental housing sector have significant impact on households' tenure decisions. As laid down in the first and second Long Term Housing Strategy respectively in 1987 and 1998. the government adopted an active policy of promoting home ownership towards privatization via various subsidies, like the Home Ownership Scheme (I IOS) and the I lome Purchase Loan Scheme (HPLS). During this period, property ownership was also regarded as an inflation-resistant investment and an effective wealth accumulation vehicle. Unfortunately, the property market slump following the 1997 Asian Financial Crisis has come to mean Ihe cessation of the "wealth escalator" function of property ownership. In view of lackluster property market and the political pressure, the government took the unprecedented decision on 13 November 2002 to extricate itself from the role as a direct provider of subsidized sale flats, allowing market forces to address the problem. A new Home Assistance Loan Scheme (HALS) was introduced on 2 January, 2003 as a phase process. On 14 July 2004. the Hong Kong Housing Authority (HA) also ceased the provision of 1IALS in order to be freed from the heavy financial burden. Currently, the subsidized home ownership of 1 long Kong is abolished. It is noted that structural changes that characterize the housing and labor markets in the new age of global economy are creating some impact on housing market behavior. As the risks arising from the higher incidence of unemployment, low wage work and volatile housing prices increase, homeowners now prudently, re-assess the terms and conditions before committing to mortgage arrangements. This research centers on investigating the determinants of tenure choice from the approved purchasers of HALS and their views over producer and customer subsidies to home ownership, i.e. HOS versus HALS. '1'hc findings in this paper reveal that factors like age, family structure and income of the household do carry weight in the decision-making process of property purchase. With diversifying social composition nowadays, singletons have become a growing source of homeowners in recent years. The research also indicates that despite certain reticence during the economic turmoil, home purchase instead of renting remains a fundamental priority, and stagnation in purchase is largely due to financial constraints. Moreover. homeowners are now more cautious in taking up loans and are generally more concerned about housing affordabilily and the early repayment of debt. Additionally, they are less inclined to attain higher social status through filtering up the housing ladder, and lend lo place more emphasis on use value, ontological security and
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Housing Management
Master
Master of Housing Management

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30

Chow, Chor-kwong Louis, and 周楚光. "An analysis of the effectiveness of the home ownership policies in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2005. http://hub.hku.hk/bib/B45008024.

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31

Nsengiyumva, Justin. "The impact of government ownership of banks, foreign capital inflows and institutions on financial development." Thesis, University of Leicester, 2016. http://hdl.handle.net/2381/36704.

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This thesis consists of three empirical and one theoretical essays on three determinants of financial development (FD) namely government ownership of banks, foreign capital inflows (FCI) and institutional quality. Some research has concluded that government ownership of banks negatively affects their soundness. Bretton Wood institutions have used these conclusions to advocate for state-owned banks privatization. The first essay shows that this research was weak in the way it controlled for fundamental determinants of soundness of banks, and lacked rigorous econometric analysis. With data covering 2001-2011, we show that if there is any relationship between government ownership of banks and their subsequent soundness, it is positive. These results are robust to various measures of FD, institutional quality and econometric approaches. The second essay presents a theoretical model predicting a negative relationship between Official Development Assistance (ODA) and FD when political institutions are weak. The third essay empirically investigates the hypothesis that the effects of ODA on FD are influenced by the level of democracy in recipient countries. Using a panel data for 37 developing countries covering 1980-2005, we apply different econometric approaches (pooled OLS, IV2SLS, fixed effects and dynamic GMM) to show that while ODA is harmful to FD in autocracies it could be effective in democracies. These results are robust to various measures of FD and democracy. The fourth essay is an empirical investigation of the hypothesis that different types of FCIs have different impacts on credit availability in developing countries. Using 5-year average data for 53 developing countries covering 1990-2013 and disaggregating FCIs into their main five types, we apply OLS, fixed effects, and dynamic GMM to show that there is a positive and statistically significant relationship between FDI, debt and equity and private credit while remittances and ODA are not significant determinants of private credit in developing countries.

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Cai, Ying. "Securitization of state-owned enterprises in China." Thesis, Click to view the E-thesis via HKUTO, 1998. http://sunzi.lib.hku.hk/HKUTO/record/B38627917.

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Leung, Chui-shan, and 梁翠珊. "The effectiveness of government's intervention on building management of multi-ownership residential buildings in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2004. http://hub.hku.hk/bib/B45008139.

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Yuen, Shan-shan Rebecca, and 袁珊珊. "Promotion of home ownership for middle-and lower-income classes in Hong Kong: alternative methods." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1997. http://hub.hku.hk/bib/B31259571.

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35

Li, Tao. "Ownership, privatization and banking regulation : four essays in the economics of transition and development /." Full text available, 2003. http://images.lib.monash.edu.au/ts/theses/litao.pdf.

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Tsang, Hung-cheung Chris, and 曾鴻璋. "An analysis of the effectiveness of the home ownership policies in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31968144.

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Hong, Bo. "Ownership structure and performance of Chinese SOEs a dissertation submitted to Auckland University of Technology in fulfilment of the requirements for the degree of Master of Business (MBus), 2009 /." Click here to access this resource online, 2009. http://hdl.handle.net/10292/829.

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Zheng, Jiayin, and 郑嘉吟. "Ownership structure and company performance : the case of listed real estate companies in mainland China." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2013. http://hdl.handle.net/10722/193498.

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Although Chinese economy has been growing remarkably, the development of the institutional, legal infrastructure and financial system remains a numbers of distinctive characteristics (Allen et al., 2004). One of the unique features is the dominance role of the government as shareholder of corporations, even for those listed on the stock exchange. This paper investigates empirically the impact of this significant characteristic on company performance. In particular, this dissertation presents an empirical study of the relationship between ownership structure and the company performance of listed property companies in China. Previous theoretical and empirical studies suggest government ownership is detrimental to company performance. Estrin and Perotin (1991) propose that corporations with the government as ultimate owner and/or with a large stake of government shareholding may not pursue profit maximization objective since the government tends to focus on its political objectives rather than the economic ones. Consequently, the firm performance in such government-related publicly listed firms will be inferior. Moreover, Shleifer and Vishny (1998) show that private ownership is preferable to state ownership because the government has a ‘grabbing hand’ that expropriates firm assets for the benefit of politicians and bureaucrats. However, the impact of state ownership on property company performance in China is more complicated and may not be always be negative due to (1) state owned company usually have better access to cheaper credit offered by major state banks; (2) state owned companies may be able to acquire development rights and can go through the development approval process more smoothly; (3) weaker institutions for protecting small investors in Mainland China’s as it is still a less developed equity market; (4) the government may have motive to demonstrate the efficiency of companies that the government has a major stake. By separating property companies into two groups according to the place of listing, namely Mainland listed group and Hong Kong listed group, based on a more recent panel data including 170 real estate firms between 2006 and 2011, this dissertation generates several distinctive results. Firstly, tradable ownership concentration has a significant positive effect on firm performance. Secondly, by separating the property companies into two groups, I found an initial positive but non-linear impact of state ownership on firm performance in Mainland listed property companies; whereas an initial negative but non-linear impact is found in those listed in Hong Kong. However, when the state’s stake of shares is relative large, the positive impact outweighs the negative impact in Mainland China. This is because the investor protection rules and regulations and their enforcement are relatively weak in Mainland China, the government shareholder can act as private block-holder and provide effective monitor on management in solving the traditional agency problems. This is not the case in Hong Kong where the market is more transparent and the interests of small investors are better protected. When the state owns a sufficiently large percentage of the shares, the relationship between state ownership and firm performance becomes positive for both groups. This empirical result suggests that the positive impact of state ownership on firm performance is always positive irrespective of the institutions for protecting the rights of minority shareholder when the state’s shareholding is sufficiently large.
published_or_final_version
Real Estate and Construction
Doctoral
Doctor of Philosophy

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39

Lai, Hing-hong. "An analysis on the effectiveness of the home ownership strategy of the SAR government : the experience of the Tenant Purchase Scheme /." Hong Kong : University of Hong Kong, 2000. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25940673.

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Lai, Wing-yin, and 黎穎賢. "Should a home ownership policy be re-introduced to Hong Kong?" Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2009. http://hub.hku.hk/bib/B42905461.

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Pyo, Myoung-Hwan. "Die Wiedergutmachung kommunistischer Enteignungen in Ostmitteleuropa : ein Modell für Korea? /." [S.l. : s.n.], 2001. http://swbplus.bsz-bw.de/bsz097708658inh.pdf.

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Chan, Po-wah, and 陳保華. "A change in government role in welfare housing and home ownership: a comparative study of China and HongKong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2007. http://hub.hku.hk/bib/B45009168.

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43

Giliana, Tefo Godfrey. "The profitability of commercial state-owned entities." Thesis, Nelson Mandela Metropolitan University, 2017. http://hdl.handle.net/10948/15633.

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The importance of State-owned entities (SOEs) in a developing State has been argued for centuries. SOEs are perceived as the tool that the State can successfully use to implement its developmental agenda. In the Republic of South Africa, SOEs have been used to ensure universal access to electricity, water and logistical infrastructure to support industrial development, as well as basic service delivery. These entities have been expected to fund these initiatives from their own funds, which alleviated the need for commercial SOEs (also known as State-owned companies) to be profitable without continuous financial injections from the RSA government. Generally, commercial SOEs have been performing poorly financially. This research study aims to determine whether political influence might affect the profitability of these commercial SOEs. The poor financial performance plaguing the commercial SOEs hinders their ability to effectively contribute as a collective to the developmental agenda of the State, as espoused in the current strategic plan of the RSA in the form of the National Development Plan (NDP). Due to the poor financial performance and subsequent diversion of financial resources from other national priorities for their bail-out, commercial SOEs have been considered a liability rather than an asset to the RSA. To satisfy the primary and associated research objectives, qualitative primary and secondary research data have been collected. The primary data have been collected by using the semi-structured interview from the CFOs of commercial SOEs from various government departments – given their proximity to the financial performance and the drivers of this performance in commercial SOEs. CFOs are also part of the commercial SOEs senior-executive management of these entities. The general opinion of the participants and the literature review of the research study is that, indeed, political influence has had an adverse effect on the profitability of commercial SOEs, among others, as a consequence of the positioning of SOEs within the governance system of the RSA, the impact of the recruitment process for senior executives and the implications of an unfunded mandate. It is clear that in the RSA, commercial SOEs, and SOEs in general, will continue to play a pivotal role in the implementation of the developmental agendas of the State, as expressed in the NDP. With the RSA government expecting commercial SOEs to fund these activities from their own funds, it is critical that the State should be an enabler rather than a hindrance for commercial SOEs‟ profitability.

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Chen, Shengluo. "Zhongguo guo you qi ye de chan quan bian ge yu dang de ling dao = The change of property rights in state-owned enterprises and the party leadership /." click here to view the abstract and table of contents, 2000. http://net3.hkbu.edu.hk/~libres/cgi-bin/thesisab.pl?pdf=b15941176a.pdf.

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Yang, Zhi, and 楊治. "Essays on China's collectively-owned enterprises." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2008. http://hub.hku.hk/bib/B40687417.

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Kwong, Fu-sam. "A study of policy on the sale of flats to sitting tenants." [Hong Kong : University of Hong Kong], 1992. http://sunzi.lib.hku.hk/hkuto/record.jsp?B13236349.

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47

Yeung, Lok-sze, and 楊樂詩. "An analysis of the policy making process in the Hong Kong Special Administrative Region: a case study ofsubsidised home ownership schemes since 1997." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2011. http://hub.hku.hk/bib/B46782667.

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Wallace-Bruce, Nii Lante. "Nationalization in international law and the newly independent African states." Thesis, The University of Sydney, 1985. https://hdl.handle.net/2123/28734.

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The rules relating to nationalization are among the most controversial in international law today. This is particularly so with respect to the Charter of Economic Rights and Duties of States and the Declaration of the New International Economic Order. In Arica, the first notable nationalization took place in 1956 with the take-over of the Suez Canal. Since then, there have been countless nationalizations and other measures of dispossession. The basic aim of the thesis is to study the development of this phenomenon and to assess its impact on private foreign investment in Africa. The thesis is divided into eight chapters. In chapter one, we trace the origins of the modern African States, going back to the pre-colonial period when Africa had its own indigenous states. We also trace the foundations of private foreign investment, starting from the pre-colonial period when Africa had its own self-sustaining economies. Chapter two deals with the study of the investment laws and policies of the independent African States. Chapter three is devoted to the actual nationalization measures that have taken place on the African Continent. Whilst the chapter does not claim to have covered all instances of nationalization in Africa, an attempt has been made to cover all notable cases. The chapter also deals with other measures of dispossession, namely, indigenization and expulsion. Chapters four, five and six deal with the international law rules. In chapter four, the rules of the traditional legal order are covered. The development of the New International Economic Order and issues arising from it, are discussed in chapter five. Then in chapter six, an attempt is made to determine the current state of the international law rules by bringing together the competing claims of the two legal orders. In chapter seven, we discuss the settlement of investment disputes in Africa. The chapter is divided into four parts. The first deals with actual compensation settlements concerning foreign-owned property. The second concentrates on de-nationalization or privatization of foreign property which had been nationalized earlier. The third part deals with international arbitrations involving African States and finally, there is a discussion of unresolved investment disputes. The last chapter centres on the legal protection of foreign investments. It covers both national legislation and international agreements on the promotion and protection of investments.

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寇航 and Hang Kou. "Transformation of courtyard house in Xian: change of ownership and decline of a traditional dwelling form." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2001. http://hub.hku.hk/bib/B31226140.

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黎慶康 and Hing-hong Lai. "An analysis on the effectiveness of the home ownership strategy of theSAR government: the experience of the TenantPurchase Scheme." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2000. http://hub.hku.hk/bib/B31256867.

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Dissertations / Theses on the topic 'Government ownership'

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