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This study examines the relation between state ownership and the performance of Chinese listed companies during the period 2002-2004. Results confirm that higher levels of direct state ownership have a negative, significant impact on market performance (Tobin’s Q) but not on operating...
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Foreign direct investment (FDI) may benefit local firms in the host country through various kinds of spillovers, but it may also raise competition and result in the crowding out of domestic firms. Using detailed firm-level data for the period 2001–2008, this paper examines the aggregate effect...
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This paper is concerned with examining the financial performance of privatized State Owned Enterprises (SOE) in Vietnam … that privatization did not guarantee improvement in financial performance in firms. Specifically, after privatizing firms … short-term liabilities. Our lesson for the Vietnamese government and other governments is that privatization program should …
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