The serious implications of privatizing state-owned enterprises for politicians, managers, and investors make such decisions highly contingent on firm characteristics and past performance, complicating the identification of the privatization effects. A unique opportunity for this identification...

Performance contracts (PCs) - contracts signed between the government and state enterprise managers - have been used widely in developing countries. China's experience with such contracts was one of the largest experiments with contracting in the public sector, affecting hundreds of thousands of...

Because each of the agent's multitasks can have several measures, the multitask agency theory predicts that incentive devices based on these measures can be complements or substitutes. However, the existing empirical literature on multitask agency considers only complementarity. This paper...