Bai, Yunxia; Lin, Bing-Xuan; Wang, Yaping; Wu, Liansheng - In: Applied Economics 45 (2013) 14, pp. 1857-1867
This article investigates the effect of the second step of privatization in China, which is full privatization through controlling rights transfer after share issue partial privatization. It finds that fully privatized firms perform worse than state-controlled enterprises. Expropriation by...