The Financial Performance and Macrofinancial Implications of Large State-Owned Enterprises in Sub-Saharan Africa /

The Financial Performance and Macrofinancial Implications of Large State-Owned Enterprises in Sub-Saharan Africa /

Using a newly-compiled dataset of state-owned enterprises in Sub-Saharan Africa, we present aggregate information about profitability, liquidity and leverage. We find that 40 percent of the close to 300 surveyed SOEs are unprofitable, while larger firms also tend to be illiquid and overleveraged. In...

Descripció completa

Dades bibliogràfiques
Autor principal: Wezel, Torsten
Altres autors: Carvalho, Naly
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2022.
Col·lecció:IMF Working Papers; Working Paper ; No. 2022/056
Matèries:
Economic History
Firm Performance
Public Enterprises
Public-Private Enterprises
Accés en línia:Full text available on IMF
LEADER 02006cas a2200301 a 4500
001 AALejournalIMF022519
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9798400202452 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Wezel, Torsten. 
245 1 4 |a The Financial Performance and Macrofinancial Implications of Large State-Owned Enterprises in Sub-Saharan Africa /  |c Torsten Wezel, Naly Carvalho. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2022. 
300 |a 1 online resource (32 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Using a newly-compiled dataset of state-owned enterprises in Sub-Saharan Africa, we present aggregate information about profitability, liquidity and leverage. We find that 40 percent of the close to 300 surveyed SOEs are unprofitable, while larger firms also tend to be illiquid and overleveraged. In cross-sectional regressions we find that SOE debt stock sustainability is impacted by firms' profitability and liquidity, while macroeconomic factors cannot be shown to matter, expect for some governance variables. Based on these findings and citing country examples, we also illustrate that weak SOE performance may have a macrofinancial impact affecting bank soundness through delinquent loan exposures. 
538 |a Mode of access: Internet 
650 7 |a Economic History  |2 imf 
650 7 |a Firm Performance  |2 imf 
650 7 |a Public Enterprises  |2 imf 
650 7 |a Public-Private Enterprises  |2 imf 
700 1 |a Carvalho, Naly. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2022/056 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2022/056/001.2022.issue-056-en.xml  |z IMF e-Library 

Ítems similars