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This study investigates the determinants of residual government ownership and the impact of such ownership on post-privatization … performance in China. Using panel data on 514 firms for the period from 1999 to 2004, the similar sample period with previous … privatization …
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have set up stronger governance than domestic private firms that have not experienced privatization. I propose seven … governments' fiscal conditions in the privatization year and privatized firms' governance, which suggests a significant role … played by local governments in shaping corporate governance during the privatization process …
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