Liao, Guanmin; Chen, Xin; Jing, Xin; Sun, Jianfei - In: China Economic Review 20 (2009) 1, pp. 15-28
Lin, Cai, and Li [Lin, Y., Cai, F., Li, Z., 1998. Competition, policy burdens, and state-owned enterprise reform. American Economic Review 88, 422-327] argue that under information asymmetry, SOE managers can use state-imposed policy burdens as excuses of poor performance and make the State...