O'Toole, Conor M.; Morgenroth, Edgar L. W.; Ha Thi Thu Thuy - 2015
Our research tests the difference in investment efficiency between state-owned enterprises (SOEs) and private firms and … then evaluates the effect of privatisation and equitisation policies on the investment efficiency of former state owned … spending. We find no evidence of investment spending being linked to marginal returns by SOEs across all sectors and size …