Die Verfasser setzen sich mit dem chinesischen Unternehmensmodell des Dorfunternehmens (Township-village enterprise, TVE) auseinander. Eigentümer der TVEs sind lokale Bürger, während die Kontrolle in den Händen der Lokalregierung liegt. Die Erträge werden zwischen Bürgern und Beamten...

This article provides a theory of interfirm partial ownership. We consider a setting in which an upstream firm can make two alternative types of investment: either specific investment that only a particular downstream firm can use or general investment that any downstream firm is capable of...

Using data from a survey conducted by the World Bank in China, this paper shows that foreign ownership enhances firm productivity. We also find that only equity ownership from foreign firms can have such a positive impact, but not ownership from foreign institutional investors, banks, or...