This study examines the determinants of the restructuring of China's SOEs in the late 1990s. Our study yields four major findings. First, we find that the degree of labor retrenchment is negatively related to enterprise performance, suggesting that poor performance is a major force driving labor...

This paper provides systematic evidence for both the cross-country and sector-independent validation of political-economic theories used to explain changes in national property rights arrangements. A political-economic model for privatization will be developed and then tested on progress in...

What does it mean for a private enterprise in China to be embedded in a family? Our purpose here is twofold: (1) use social network analysis to describe what it means for a firm to be embedded in a family, (2) reveal from the application a new kind of firm, not family, yet akin to family. Armed...

It is well known in economics, law, and sociology that reputation costs in a closed network give insiders a feeling of being protected from bad behavior in their relations with one another. A person accustomed to doing business within a closed network is therefore likely to feel at unusual risk...

The key objective of this paper is to highlight the interconnectedness between China's political and economic system and its weak enforcement of accounting and auditing standards. The institutional analysis shows that the prevailing political and economic priorities constituting China's...

Recent research on financial market development has focused on the nature of the legal system. The law and finance literature, however, exclusively focuses on the abuse of management power as a major cause of shareholder expropriation. We examine the role of the administrative capability of the...

La présente étude donne une preuve systématique de l'aptitude de l'économie politique à expliquer les solutions nationales du droit de la propriété, indépendamment des pays et des secteurs. Un modèle politico-économique de la privatisation est développé et testé en se servant des...