Shen, Jim Huangnan; Liu, Fang; Zhang, Jun; Lee, Chien-Chiang - 2019
This paper considers the non-monotonic effect of the partial privatization campaign on the capital allocation … distortion of large SOEs in China by using the Chinese firm-level panel data. We construct a theoretical model to show that the … rise in the degree of partial privatization has the non-monotonic effect of removing the capital allocation distortion …