He, Zhiguo; Liao, Guanmin; Wang, Baolian - National Bureau of Economic Research - 2022
-specific costs of capital. We show that SOEs did respond to the performance evaluation reform by altering their investment decisions …-owned enterprise (SOE) performance evaluation policy. To improve capital allocative efficiency, in 2010, regulators switched from using … evidence that incentive schemes affect real investment and sheds new light on challenges faced by economic reforms in China …