Showing 1 - 10 of 10,399
In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of … efficient than nonSOEs and majority SOEs. The relative innovative efficiency of minority SOEs is more pronounced amongst firms …
Persistent link: https://www.econbiz.de/10012835354
systematic performance and efficiency differentials between National Oil Companies (NOCs) and privately-owned International Oil … an indication of firm efficiency. Because NOCs also significantly underperform the private sector in terms of output … efficiency and profitability, this paper nevertheless suggests that a political preference for State Oil usually comes at an …
Persistent link: https://www.econbiz.de/10014217790
This paper investigates the impact of the ongoing mixed-ownership reform on the innovation activities of SOEs in China …. We find that the reform improves SOE’s innovation, and the impact is heterogeneous, by exploring in different industries … SOEs like previous privatization, but also in a reverse direction. We also find its positive impact of improving the …
Persistent link: https://www.econbiz.de/10013233664
We study the relation between state ownership and cash holdings in China's share-issue privatized firms from 1993 to 2007. We find that the level of cash holdings declines as state ownership increases. This negative relation is attributable to the soft-budget constraint (SBC) inherent in state...
Persistent link: https://www.econbiz.de/10013115833
. Specifically, we examine the determinants of residual state ownership after privatization over a window of up to six years after … privatization is politically shaped and constrained, and hence obeys to a dynamic that is different from one country to another …
Persistent link: https://www.econbiz.de/10013155841
In this paper, we examine the relation between government ownership and stock price informativeness around the world. Using a sample of privatized firms from 41 countries between 1983 and 2007, we find strong and robust evidence that state ownership is associated with lower firm-level stock...
Persistent link: https://www.econbiz.de/10013061324
, improves both the efficiency and governance of SOEs. Third, the MOR was designed to develop partnerships or alliances between … the state shareholders and strategic investors in order to help the post-MOR state enterprises improve their efficiency …
Persistent link: https://www.econbiz.de/10012847112
We study the relation between state ownership and cash holdings in China's share-issue privatized firms from 2000 to 2012. We find that the level of cash holdings increases as state ownership declines. For the average firm in our sample, a 10 percentage-point decline in state ownership leads to...
Persistent link: https://www.econbiz.de/10013031410
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...
Persistent link: https://www.econbiz.de/10013184745
This study investigates the determinants of residual government ownership and the impact of such ownership on post-privatization … privatization …
Persistent link: https://www.econbiz.de/10013125138