China ’ s Secondary Privatization : Perspectives from the Split-Share Structure Reform ∗

@inproceedings{Liao2012ChinaS,
  title={China ’ s Secondary Privatization : Perspectives from the Split-Share Structure Reform ∗},
  author={Lian-ying Liao and Bingqing Liu and Hao Wang},
  year={2012}
}
The Split-Share Structure Reform granted legitimate trading rights to the stateowned shares of listed state-owned enterprises (SOEs), opening up the gate to China’s secondary privatization. The expectation of privatization quickly boosted SOE output, profits, and employment, but did not change their operating efficiency and corporate governance. The improvements to SOE performance are positively correlated to government agents’ privatization-led incentive of increasing state-owned share value… CONTINUE READING

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