Liao, Li; Liu, Bibo; Wang, Hao - In: Journal of Financial Economics 113 (2014) 3, pp. 500-518
The Split-Share Structure Reform granted legitimate trading rights to the state-owned shares of listed state-owned enterprises (SOEs), opening up the gate to China׳s secondary privatization. The expectation of privatization quickly boosted SOE output, profits, and employment, but did not change...