TITLE

Does Government Ownership Always Reduce Firm Values? Evidence from Publicly Listed Companies in China

AUTHOR(S)
Ran Zhang; Largay, III, James A.
PUB. DATE
August 2008
SOURCE
Academy of Management Perspectives;Aug2008, Vol. 22 Issue 3, p116
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the results of a research paper published in a 2007 issue of the "Journal of Comparative Economics," by Lihui Tian and Saul Estrin, titled "Retained state shareholding in Chinese PLCs: Does government ownership always reduce corporate value?" The study investigated the degree to which government ownership of Chinese corporations impaired their performance. Publicly listed companies (PLCs) on the Chinese stock exchanges are often majority owned by the Chinese government. The results indicated that the best performance was found among firms which faced either the least or the greatest amount of government involvement.
ACCESSION #
34588002

 

Related Articles

  • A New Data Base on State-Owned Enterprises. Haggarty, Luke; Mary, Shirley // World Bank Economic Review;1997, Vol. 11 Issue 3, p491 

    Privatization of state-owned assets was a central economic reform of the 1980s and 1990s. Lack of data has made it impossible to judge the extent to which privatization has diminished the importance of state ownership in the economy or changed the performance of state-owned enterprises. This...

  • Change in Government. McGowan, R. A. // America;9/6/1924, Vol. 31 Issue 21, p489 

    The article focuses on the need for government ownership advocates to change their form of management through government management in the U.S. The change was driven by the fear of the working people that they probably will be worse off under government management than under private corporation...

  • Blind Alleys of the Statization of the Economy. Orlov, B.P. // Problems of Economics;May91, Vol. 34 Issue 1, p57 

    Focuses on the total statization of ownership of the means of production in the Soviet Union with the aid of central planning. Negative consequences of statization; Economic and social reasons for the undesirability of the perpetuation of state property; Radical solutions needed to address...

  • State-owned enterprises as indirect instruments of entry regulation. Brand�o, A.; Castro, S. // Journal of Economics;Dec2007, Vol. 92 Issue 3, p263 

    In the context of mixed markets, Matsumura and Kanda (J Econ 84(1): 27�48, 2005) show that social welfare in free entry equilibrium is maximized when there exists a public firm in the market. En passant, these authors state that this outcome is connected to the entry-deterring influence of...

  • Privatizing State-Owned Enterprises: Hopes and Realities. Austin, James E.; Wortzel, Lawrence H.; Coburn, John F. // Columbia Journal of World Business;Fall86, Vol. 21 Issue 3, p51 

    In a wide spectrum of countries, state ownership of enterprises has grown rapidly over the last 25 years. Most state-owned enterprises were created in response to a variety of specific economic needs or problems. But in many cases, SOEs have not solved the problems they were created to solve;...

  • Turkey Rediscovers A Satisfying Blend. Eczacibasi, Nejat F. // Columbia Journal of World Business;Spring66, Vol. 1 Issue 2, p65 

    Several months ago in Turkey, the rebuilt, western-oriented Justice Party of S�leyman Demirel came into political power in one of the most solidly won free elections of this decade. It amassed 53% of the total vote, as compared to 29% for its nearest rival. But while the Demirel victory had...

  • No Mandate for GSE Reform. Collins, Brian // National Mortgage News;4/12/2004, Vol. 28 Issue 29, p1 

    Reports that no mandate was made for the proposed government-sponsored enterprises (GSE) regulator bill. Decision of the Bush administration to turn its back on the bill, claiming the receivership provision was compromised and it gives the false impression that the taxpayers provide an implicit...

  • APPENDIX 1 : Provatisation laws.  // French Financial Markets;1995, p159 

    The article details the provisions of the Privatisation Law 93-923 enacted by the French government on July 19, 1993, which amended some of the provisions of Law No.86-912 of 6th August, 1986 and Law No.86-793 of 2nd July, 1986. The provisions of the law on the economic and social measures that...

  • WE ARE THE (NATIONAL) CHAMPIONS: UNDERSTANDING THE MECHANISMS OF STATE CAPITALISM IN CHINA. Li-Wen Lin; Milhaupt, Curtis J. // Stanford Law Review;Apr2013, Vol. 65 Issue 4, p697 

    China now has the second-largest number of Fortune Global 500 companies in the world. Most of the Chinese companies on the list are state-owned enterprises (SOEs) organized into massive corporate groups with a central government agency, known as SASAC, as their ultimate controlling shareholder....

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics