Singapore, Inc. Versus the Private Sector

Download or read book Singapore, Inc. Versus the Private Sector written by Carlos D. Ramírez and published by International Monetary Fund. This book was released on 2003-07-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government-linked companies (GLCs) have a significant presence in Singapore's corporate sector. Unlike parastatals in many other countries, these companies are run on a competitive, commercial basis, ostensibly without government privileges. Based on data from publicly listed GLCs and non-GLCs, we indeed find no evidence that GLCs have easier access to credit. However, we do find that being a GLC is rewarded in financial markets with a positive premium, over and above what can be explained by the usual determinants of Tobin's q.