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system. Political promotion is key to understanding the incentives of SOE managers. In the reform and opening up era, SOEs …-task objectives. The incentive system for SOE managers consists of both monetary compensation and promotion within the bureaucratic … have been reformed and exposed to political and market forces. The design of incentive systems for SOE managers has thus …
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This paper presents theoretical analysis of how career concerns and shareholder monitoring affect chief executive officer (CEO) agency costs. We investigate investment efficiency prior to CEO retirement based on a sample of Chinese state-owned enterprises (SOEs) during the 1999-2007 period and...
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