Working Paper 03/09 available here

Working Paper 03/09 available here

By using new panel data for Estonian companies during 1993 through 1999, Hobdari, Jones and Mygind analyze investment behaviour and the determinants of liquidity constraints. Unlike previous empirical work they use a switching regression framework when sample separation is unknown and endogenous and firms are assumed to operate either in the financially constrained or in the financially unconstrained regime.

Niels Mygind earned his cand.polit./MSc in 1980 from Department of Economics, Copenhagen University. The same year he enrolled as a PhD student at the Department of Economics, CBS. As associate professorship at CBS, in 1996, he was appointed Director of the Center for East European Studies, which moved in 2000 to the Department of International Economics and Management (INT). In 2004 he became Professor with special responsibilities in the research area “Corporate Governance and Restructuring in Eastern Europe”. Since the start of 2008 he has been Head of Department at INT.

 Professor Mygind has an extensive list of international publications that spans the general analysis of societies in transition; privatization, restructuring and employee ownership in Eastern Europe, with emphasis on the Baltic Countries, and Corporate Governance – shareholder-stakeholder issues with focus on employee participation.

Bersant Hobdari, Assistant Professor, PhD, in his research is focused on various corporate governance issues such as the impact of ownership structures on firm performance, the determinants of board structure and its impact on firm performance, the design of internal and external mechanisms of corporate control and their respective impact. He has published his research in journals like Corporate Governance: An International Review, Corporate Ownership and Control and Applied Economics.