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Impacts of Privatization on Employment - Evidence from China
Huang, Lingwen; Yao, Yang - East Asian Bureau of Economic Research (EABER) - 2006
This paper evaluates the impact of privatization on firm employment using a panel dataset of 386 firms in China in the … the dynamic impact of privatization on employment growth and find that the performance of privatized firms improves over … time. These findings are robust even after we control other performance and financial variables as well as the pre-privatization …
Persistent link: https://www.econbiz.de/10009365342
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Old stocks, new owners: Two cases of ownership change in China's stock market
Green, Stephen; Ho, Jenna - In: Journal of Chinese Economic and Business Studies 2 (2004) 3, pp. 267-280
During the 1990s, ownership of China's listed firms remained stable: state entities remained in control of restructured state-owned enterprises since only a minority of shares were allowed to trade publicly and to be owned privately. However, since 1999, the ownership of China's listed firms has...
Persistent link: https://www.econbiz.de/10005438454
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Where to Find Positive Productivity Spillovers from FDI in China: Disaggregated Analysis
Hale, Galina; Long, Cheryl; Miura, Hirotaka - Hong Kong Institute for Monetary Research (HKIMR), … - 2010
Using panel data from Chinese Industrial Surveys of Medium-sized and Large Firms for 2000-06, we show that while there is evidence of positive technological spillovers from FDI, such spillovers are very unevenly distributed. For some industries, there are positive spillovers from FDI presence in...
Persistent link: https://www.econbiz.de/10009642544
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Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?
Tian, Lihui; Estrin, Saul - Institute for the Study of Labor (IZA) - 2005
The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...
Persistent link: https://www.econbiz.de/10005822452
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Rent Seeking and Government Ownership of Firms: An Application to China’s Township-Village Enterprises.
Che, Jihua - William Davidson Institute, University of Michigan - 2002
Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such government rent-seeking activity leads to a typical hold-up problem. Government ownership serves as a second-best commitment mechanism, through which the government agency...
Persistent link: https://www.econbiz.de/10005652514
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The State Advances, the Private Sector Retreats: Firm Effects of China’s Great Stimulus Program
Johansson, Anders C.; Feng, Xunan - Stockholm China Economic Research Institute, … - 2013
It has been argued that the Chinese state sector is advancing at the cost of the private sector. Focusing on publicly listed firms which are divided into state- and private-controlled firms, we investigate preferential access to debt and effects on firm performance. Focusing on the large...
Persistent link: https://www.econbiz.de/10010687618
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Political considerations in the decision of Chinese SOEs to list in Hong Kong
Hung, Mingyi; Wong, T.J.; Zhang, Tianyu - In: Journal of Accounting and Economics 53 (2012) 1, pp. 435-449
This paper investigates why Chinese state-owned enterprises (SOEs) with strong political connections (i.e., politically connected firms) are more likely to list overseas than non-politically connected firms. We find that connected firms' post-overseas listing performance is worse than that of...
Persistent link: https://www.econbiz.de/10010572423
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What kind of privatization?
Tian, Guoqiang; Liang, Hong - Volkswirtschaftliche Fakultät, … - 1999
The Fifteenth Party Congress of the Chinese Communist Party (CCP) attracted worldwide attention by announcing its adoption of "controlling big while releasing the small strategy in reforming its 354,000 state-owned enterprises (SOEs), 240,000 of which are small-sized SOEs. A shareholding system...
Persistent link: https://www.econbiz.de/10011110117
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Italy’s Privatization Process and Its Implications for China
Bortolotti, Bernardo - Fondazione ENI Enrico Mattei (FEEM) - 2005
process. Particularly, it analyzes the symbiotic link between share issue privatization (SIP), i.e. privatization in public …
Persistent link: https://www.econbiz.de/10005570311
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Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?
Tian, Lihui; Estrin, Saul - William Davidson Institute, University of Michigan - 2005
The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...
Persistent link: https://www.econbiz.de/10005784638