کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
959469 929283 2014 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
China׳s secondary privatization: Perspectives from the Split-Share Structure Reform
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
China׳s secondary privatization: Perspectives from the Split-Share Structure Reform
چکیده انگلیسی

The Split-Share Structure Reform granted legitimate trading rights to the state-owned shares of listed state-owned enterprises (SOEs), opening up the gate to China׳s secondary privatization. The expectation of privatization quickly boosted SOE output, profits, and employment, but did not change their operating efficiency and corporate governance. The improvements to SOE performance are positively correlated to government agents’ privatization-led incentive of increasing state-owned share value. In terms of privatization methodology, the reform adopted a market mechanism that played an effective information discovery role in aligning the interests of the government and public investors.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 113, Issue 3, September 2014, Pages 500–518
نویسندگان
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