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Reform of the shareholding system for collective assets, residents' participation, and community debts risk

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  • Ma, Shuang
  • Gong, Yuexuan
  • Li, Ding

Abstract

The reform of the shareholding system for collective assets (SSCA) has made clear the community members' rights to collective assets and their possessory rights, while changes in the residents' rights may alter their behaviors and community interests. In this study, the Difference-in-Differences estimation method is used to examine the impact of the SSCA reform on residents' participation in community governance. With residents' participation as the mediating factor, the mediating effect model is used to study the impact of the reform on community debts risk (CDR). When the household, community, and economic variables are controlled, the probability of residents in communities that have undergone reform being willing to participate in community governance is 5.6% higher than those in communities that have not. The results are significant at the 5% level. In terms of CDR, the SSCA reform has significantly reduced the debts–assets ratio by 7.9%. These findings have passed a series of robustness tests. This conclusion provides new ideas for promoting communities' democratic participation and debts risk management.

Suggested Citation

  • Ma, Shuang & Gong, Yuexuan & Li, Ding, 2019. "Reform of the shareholding system for collective assets, residents' participation, and community debts risk," China Economic Review, Elsevier, vol. 58(C).
    • Handle: RePEc:eee:chieco:v:58:y:2019:i:c:s1043951x19300495
    DOI: 10.1016/j.chieco.2019.04.004
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    Cited by:

    1. Dan Pan & Jinlong Zhou & Yi Yu & Shengdong Chen, 2024. "Rural Collective Property Rights System Reform and Urban-Rural Income Gap: A County-Scale Big Data Analysis in China," SAGE Open, , vol. 14(3), pages 21582440241, August.
    2. Jiayi Wang, 2025. "Exploring determinants and development paths of rural economy from sustainable common-pool resource governance perspective," Economics of Governance, Springer, vol. 26(3), pages 271-311, September.
    3. Lili Geng & Shaocong Yan & Qi Lu & Xiaomeng Liang & Yufei Li & Yongji Xue, 2023. "A Rural Land Share Cooperative System for Alleviating the Small, Scattered, and Weak Dilemma in Agricultural Development: The Cases of Tangyue, Zhouchong, and Chongzhou," Agriculture, MDPI, vol. 13(9), pages 1-17, August.
    4. Sun, Yang & Zhang, Yu & Tang, Xinwei, 2024. "Collective asset management under corporate governance theory," Research in International Business and Finance, Elsevier, vol. 67(PB).
    5. Yang, Zhenbing & Chen, Zhuo & Shi, Qi & Yan, Bing, 2021. "Does outward foreign direct investment increase debt ratio? Firm-level evidence from China," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 1-12.
    6. Zhang, Yujiao & Chai, Yujia & Mao, Hui, 2025. "Rural collective property rights system reform and household energy transition in China," Energy, Elsevier, vol. 340(C).

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