The role of government shareholding in corporate performance is central to an understanding of China's newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

In this paper, we review the developments that took place in the 'Big Four' after their full privatization. We show that POSCO, KT, and KTamp;G, which were privatized to have dispersed share ownership, have relatively high corporate governance standards. We also show that the 'Big Four,' have...

This paper documents the ultimate shareholding structures of 826 corporations listed on China's stock market and finds large equity holdings of the government. Using a panel data set, this paper further finds that corporate value decreases with an increased size of government shareholding when...

Examining the ultimate ownership and control of 826 corporations listed on China's stock market, this paper argues that the government shareholder in control is the main feature of these Chinese firms. With the panel dataset of five years, it was found that firms under the control of the...

This study surveys the literature examining the privatization of state-owned enterprises(SOEs). We overview the history of privatization, the theoretical and empirical evidence on the relative performance of state owned and privately owned firms, the types of privatization, if and by how much...

This study investigates the relation between managerial foreign experience and corporate risk-taking in China. We find that foreign experienced managers are positively associated with corporate risk-taking and this relationship mainly exists in private firms rather than in state owned...

Russian Abstract: В современных условиях одной из важнейших задач социальной политики (и ее составляющей — кадровой политики) любого государства и на международном...

Using the high-power setting of newly privatized firms from 64 countries, we examine the relationship between ownership type and firm-level capital allocations as captured by the sensitivity of investment expenditure to investment opportunities. Consistent with our predictions that government...

I investigate ultimate control and ownership patterns in Russian publicly traded companies. I show that these companies are controlled either by the state or by anonymous private owners. Federal and regional governments' control is exercised through extensive use of pyramids. Private owners...

The role of government shareholding in corporate performance is central to an understanding of China's newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...