Wu, Chuyi; Xu, Liping; Xin, Yu - In: China journal of accounting research : CJAR 16 (2023) 2, pp. 1-22
This paper explores the influence of the State Capital Investing and Operating Company (SCIOC) pilot reform on SOE bailout using a staggered difference-in-differences model. Based on a sample of listed SOEs during 2011-2018, we find that when the real controllers of listed SOEs enter the list of...