Based on the hypothesis that tradeable marketing quotas may be analysed as an economic input in the production process of regulated firms, the standard capital asset pricing model is adapted to assess the impact of expectations of quota rents on Ontario fluid milk quota values. The analysis...

We study the evolution of employment and wage outcomes in Chinese SOEs during the first decade of economic reforms, studying a panel of data for almost 1000 enterprises covering the years 1980-90. Despite the consensus on the persistence of labor redundancy in the SOE sector, we find that...

We examine the contrast in the experience of ownership reforms between urban SOEs and rural TVEs using a panel of industrial enterprises in Nanjing municipality for the period from 1994 to 2001. Our objectives are twofold. First, we study how the reform program of “grasp the large and let go...