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We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...
Persistent link: https://www.econbiz.de/10011844586
Firms in China have faced high political costs during China’s economic transition, because they are affected by … and earnings management in China. This study tests whether real estate firms attempt to decrease earnings during periods …
Persistent link: https://www.econbiz.de/10011823722
reform in China. It also conducts empirical studies of the change in ownership and board composition in over 30 SOEs which … have recently completed their MOR experiments, as well as, several case studies including China Unicom's MOR. We observe … argue that the MOR programme is driven by three current beliefs of the Chinese Party-state on the future of SOEs in China …
Persistent link: https://www.econbiz.de/10012847112
major actor in China's domestic capital allocation, with an active role in strategic financing and restructuring of key …
Persistent link: https://www.econbiz.de/10014225425
This study examines the determinants of the restructuring of China's SOEs in the late 1990s. Our study yields four … force for managers of China's SOEs. Furthermore, we offer evidence that decisions about labor retrenchment in traditional …
Persistent link: https://www.econbiz.de/10014067521
Since 1978, the effects of China's state-owned enterprise reform have received extensive attention, but the causal … relationship between reform measures and profitability has rarely been verified. This study investigates the impact of China … privatization can enhance firm performance under China's ongoing mixed-ownership reform …
Persistent link: https://www.econbiz.de/10014353509
the role of state ownership in R&D investment in China, especially after the most recent wave of privatization, namely …
Persistent link: https://www.econbiz.de/10014432213
We study the relation between state ownership and cash holdings in China's share-issue privatized firms from 2000 to …
Persistent link: https://www.econbiz.de/10013031410
This paper analyses the relationship between corporate governance, state ownership and cross-listing by using data from 2,113 Chinese A-share listed firms during the period 2008 to 2013. Firstly, corporate governance features in state-owned vs. non-state-owned and cross-listed vs....
Persistent link: https://www.econbiz.de/10010487561
We analyze related party transactions between Chinese publicly listed firms and their state-owned enterprise (SOEs) shareholders to examine whether companies benefit or lose from the presence of government shareholders and politically connected directors appointed by the government. We find that...
Persistent link: https://www.econbiz.de/10013116907