Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?

Research, Preprint OPEN
Estrin, Saul; Tian, Lihui;
  • Publisher: Bonn: Institute for the Study of Labor (IZA)
  • Subject: G32 | G34 | G15 | L33 | Öffentliches Unternehmen | Eigentümerstruktur | China; corporate governance; government shareholding | China | Corporate Governance | Privatisierung | government shareholding
    • jel: jel:G34 | jel:G32 | jel:L33 | jel:G15
      ddc: ddc:330

The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms and the stock market. In this paper, we analyse shareholders as agents that can both harm and benefit companies. We examine the ownership ... View more
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