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The Public Institution Reform of China in 2011 effectively downsized public institutions, which is an important component of the public sector. Using this reform as a quasi-natural experiment, this paper studies the impact of public sector downsizing on private firm profits.With the instrument...
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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 … that residual government ownership has a positive impact on Tobin's Q. This study indicates that when the risk of …
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