Jiang, Guohua; Yue, Heng; Zhao, Longkai - In: Journal of Banking & Finance 33 (2009) 12, pp. 2322-2332
Previous studies show that in contrast to evidence that share issue privatization (SIP) in most other countries have improved firm profitability, China's SIP of the 1990s had no such effect. We argue that the main reason for the failure of China's SIP is likely to have been the weak...