| ID | 112733 |
| Title Proper | Ownership structure and firm performance |
| Other Title Information | evidence from the Chinese corporate reform |
| Language | ENG |
| Author | Kang, Young-Sam ; Kim, Byung-Yeon |
| Publication | 2012. |
| Summary / Abstract (Note) | We employ a new classification of ownership identity to analyze the impact of ownership structure on enterprise performance in China. Using both fixed effects model and Generalized Methods of Moments (GMM), this study finds that marketized state-owned enterprises outperform firms controlled by the government, indicating that partial privatization of state-owned Chinese firms improves corporate governance. Non-controlling large shareholders of marketized state-owned enterprises and private enterprises are found to play active roles in corporate governance. Lastly, there is evidence that ownership concentration of a controlling shareholder decreases the incentives to expropriate minority shareholders. |
| `In' analytical Note | China Economic Review Vol. 23, No.2; Jun 2012: p.471-481 |
| Journal Source | China Economic Review Vol. 23, No.2; Jun 2012: p.471-481 |
| Key Words | Privatization ; Gradual Approach ; Ownership Structure ; Marketized State - Owned Enterprises ; China |