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Association Between State Ownership Participation And Rent-Seeking Behavior Of Private Firms In China

Author

Listed:
  • LIUZHEN ZHANG

    (School of Accounting, Hangzhou Dianzi University, Hangzhou, Zhejiang, P. R. China)

  • FENG NIU

    (School of Accounting, Hangzhou Dianzi University, Hangzhou, Zhejiang, P. R. China)

  • WUNHONG SU

    (School of Accounting, Hangzhou Dianzi University, Hangzhou, Zhejiang, P. R. China)

Abstract

The rent-seeking behavior of firms in economic society destroys the fair market order and hinders the sustainable development of the economy. In the context of the mixed-ownership reform, this study examines whether and how state ownership participation affects the rent-seeking behavior of private firms using Chinese-listed private firms from 2010 to 2019. The findings suggest that state ownership participation significantly eliminates the rent-seeking behavior of private firms. However, the eliminating effect of state ownership participation on private firms’ rent-seeking behavior is weakened by high economic policy uncertainty and government intervention where private firms operate. The findings of this study enrich the characteristics and influencing factors of rent-seeking behavior of private firms, expand the literature on Chinese mixed-ownership participation, provide empirical evidence that is inconsistent with Western theoretical predictions, construct a new theory based on practices with Chinese characteristics and further reveal the characteristics of Chinese accounting practices.

Suggested Citation

  • Liuzhen Zhang & Feng Niu & Wunhong Su, 2024. "Association Between State Ownership Participation And Rent-Seeking Behavior Of Private Firms In China," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 69(01), pages 81-117, March.
    • Handle: RePEc:wsi:serxxx:v:69:y:2024:i:01:n:s0217590823500091
    DOI: 10.1142/S0217590823500091
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