How does ownership structure affect capital structure and firm value?:Recent evidence from East Asia

The present paper examines the effects of ownership structures on capital structure and firm valuation. It argues that the effects of separation of control from cash flow rights on capital structure and firm value also depend on the separation of control from management as well as on legal rules and enforcement defining investors' protection. We obtain firm-level panel data (three stage least squares, 3SLS) estimates from four of the East Asian countries worst affected by the last crisis. There is evidence that the general wisdom that higher control than cash flow rights may lower firm value may be reversed among owner-managed family firms in the sample countries. © 2007 The Authors Journal compilation © 2007 The European Bank for Reconstruction and Development.

ICT diffusion and foreign direct investment:a comparative study between Asia-Pacific and the Middle Eastern economies

This chapter investigates the impact of inward and outward FDI on ICT diffusion in the Asia-Pacific and Middle East regions for the period 1996-2008. The results indicate that while inward FDI has generally had a positive and significant impact on ICT diffusion in Asia-Pacific economies, its impact on the Middle Eastern countries has been detrimental. In contrast, the results of this study also show that outward FDI has had, in general, the inverse effect, it has been in general positive and significant for the Middle East countries but insignificant for Asia-Pacific economies.

Do foreign direct investment (FDI) and trade openness explain the disparity in ICT diffusion between Asia-Pacific and the Islamic Middle Eastern countries?

This study investigates the impact of FDI and trade openness on ICT diffusion in the Asia-Pacific and Middle East regions from 1996-2005. The results indicate that while dissimilarities exist between the economies included in this study in terms of their level of socio-economic and political development, education and the growth of GDP have had a positive impact on ICT diffusion in both regions. However, while FDI has generally had a positive and significant impact on ICT diffusion in Asia-Pacific economies, its impact on Middle Eastern economies has been detrimental. The results of this study also show that trade-openness has had, in general, a positive and significant impact on ICT diffusion. Copyright © 2010, IGI Global.