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How does government ownership affect firm performance? A simple model of privatization in transition economies

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  • Huang, Linqiang
  • Xiao, Sheng
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    Abstract

    We present a game-theoretical model of privatization in transition economies. We consider the costs and benefits of government ownership and derive the net effect of government ownership on firm performance. Model predictions are consistent with empirical evidence in the literature.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0165176512001875
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    Bibliographic Info

    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 116 (2012)
    Issue (Month): 3 ()
    Pages: 480-482

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    Handle: RePEc:eee:ecolet:v:116:y:2012:i:3:p:480-482

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    Web page: http://www.elsevier.com/locate/ecolet

    Related research

    Keywords: Privatization; Government ownership; Firm performance;

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    References

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    1. Bai, Chong-En & Li, David D. & Tao, Zhigang & Wang, Yijiang, 2000. "A Multitask Theory of State Enterprise Reform," Journal of Comparative Economics, Elsevier, vol. 28(4), pages 716-738, December.
    2. Shleifer, Andrei & Vishny, Robert W, 1994. "Politicians and Firms," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 995-1025, November.
    3. Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 1999. "When Does Privatization Work? The Impact Of Private Ownership On Corporate Performance In The Transition Economies," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1153-1191, November.
    4. Jefferson, Gary H, 1998. "China's State Enterprises: Public Goods, Externalities, and Coase," American Economic Review, American Economic Association, vol. 88(2), pages 428-32, May.
    5. Nandini Gupta, 2005. "Partial Privatization and Firm Performance," Journal of Finance, American Finance Association, vol. 60(2), pages 987-1015, 04.
    6. Rousseau, Peter L. & Xiao, Sheng, 2008. "Change of control and the success of China's share-issue privatization," China Economic Review, Elsevier, vol. 19(4), pages 605-613, December.
    7. Barberis, Nicholas & Boycko, Maxim & Shleifer, Andrei & Tsukanova, Natalia, 1996. "How Does Privatization Work? Evidence from the Russian Shops," Scholarly Articles 3451306, Harvard University Department of Economics.
    8. Dong, Xiao-Yuan & Putterman, Louis, 2003. "Soft budget constraints, social burdens, and labor redundancy in China's state industry," Journal of Comparative Economics, Elsevier, vol. 31(1), pages 110-133, March.
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