This study assesses the impact of government shareholding on corporate performance using a sample of 643 non-financial companies listed on the Chinese stock exchanges. In view of the controversial empirical findings in the literature and the limitations of the least squares regressions, we adopt...

We investigate necessary and sufficient conditions for threat-based incentive mechanisms (TBIMs), an extension of the Mirrlees's schemes, to approximately eliminate moral hazard in a principal-agent relationship with both problems of moral hazard and adverse selection. Assuming normal...