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...

This study tries to determine to what extent the Chinese bureaucracy is merit-based. By triangulating quantitative and qualitative survey data from a sample of Chinese cadres (n=286), the authors aim to answer the research question: “What is the behavioural impact of the incentive structure...