Does transfer of control rights and private benefits of control increase efficiency? Evidence from China’s privatization of the SOE’s

Haque, Mahfuzul; Lamb, Steven W.

doi:10.1080/14765284.2016.1175766

Cited by 3 publications

(4 citation statements)

References 25 publications

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“…Privatization of State-Owned Enterprises (SOEs) is recognized as one of the most important changes in public sector reform (Mehmood et al, 2013). Privatization refers to the transfer of ownership and control of property or business from the state to privately owned entities (Wang et al, 2016). There are global trends in the reform of state ownership, among them:…”

Section: Privatization In Soesmentioning

confidence: 99%

“…In addition, several indicators of SOE's financial position and efficiency after privatization also showed remarkable improvement (Rakhman, 2018) (Chakrabarti et al, 2017). Reduction of ownership in the natural sector also had many advantages, provided the sector had abundant resources and was under strict supervision by the government (Cosset et al, 2019) (Wang et al, 2016).…”

Section: Performance Of Soes After Reducing Government Ownershipmentioning

confidence: 99%

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Privatization in State-Owned Enterprises: A Systematic Literature Review

Rosyda

Raharja

2020

jmpp

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One of the effective ways to improve the governance of State-Owned Enterprises (SOEs) is through privatization. A common problem that occurs at present in SOEs is that state-owned companies are inefficient in the use of resources, especially labor. The purpose of this research is to comprehend what is important in privatization, using the Systematic Literature Review (SLR) method. Some things that are important in the privatization of State-Owned Enterprises include privatization performance based on privatization activities, success factors, CSR in privatized SOEs, and performance after reducing government ownership. An improvement of performance both in terms of attainment and income along with a decrease in CSR were likely experienced by SOEs when privatizing. In addition, this research was also conducted to find out whether there were parts that had become worse after privatization. The privatization of SOEs was carried out by modernizing the economy. The decrease in performance of CSR could be minimized by social activities carried out by the company. The role of the government was very important in the supervision of SOEs so no one was able to gain personal benefit. The involvement of stakeholders was very important in this process because it could increase the trust of shareholders. During privatization, cooperating partners had to guarantee that there would be no termination of workers. In fact, it was hoped that more workers were to be added.

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Section: Privatization In Soesmentioning

confidence: 99%

Section: Performance Of Soes After Reducing Government Ownershipmentioning

confidence: 99%

Privatization in State-Owned Enterprises: A Systematic Literature Review

Rosyda

Raharja

2020

jmpp

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“…Turning to our understanding of Chinese markets, the literature on the book to market effect in Chinese markets remains inconclusive. Surprisingly, literature on Chinese markets mainly focuses on the issues of privatization and firm performance (Hovey et al 2003;Qi et al 2000;Wang et al 2016), IPOs aftermarket performance (Chan et al 2004;Li & Naughton, 2007), and price differentials among different classes of shares (Sun & Tong, 2000, 2003. Wang (2004) find that firm size, and book-to-market ratio, have a similar impact on stock returns to those in other markets, that is, small stocks outperform large stocks, and value stocks outperform growth stocks.…”

Section: Literature Reviewmentioning

confidence: 99%

The Functionality of Book-to-Market Ratio in Chinese Markets

Li¹,

McMurray²,

Liu³

2018

IREF

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We investigate the question whether the book to market ratio acts as a “risk-based” or “mispricing-based” proxy for share price formation in Chinese markets. We find that a strong relationship is observed between the firms’ book to market ratio and stock returns both in current and following years, while we cannot find a steady relationship between market leverage ratio and stock returns. In addition, the findings support the notion that a mispricing-based explanation is more plausible in China due to the speculative features of the Chinese markets.

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“…3(p6) The major argument used to justify this recent privatization wave remains the conventional wisdom, which claims that the economic efficiency of the public sector is generally worse than that of the private sector, [7][8][9][10] despite ample empirical evidence to the contrary. [11][12][13][14][15][16][17] The public sector's non-economic roles, however, have received much less emphasis from policymakers and the academic community (with only a few exceptions 15,[18][19][20][21] ). This study draws attention to an issue largely neglected even in the few studies that focus on the public sector's welfare functions: the relationship between public sector and health.…”

mentioning

confidence: 99%

The Relationship Between Public Sector Employment and Population Health: Evidence From the 1980s and Its Contemporary Implications

Zhang

Qing-jun

2019

Int J Health Serv

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This article explores the relationship between public sector employment and population health both theoretically and quantitatively. First, we build a theoretical framework to situate public employment in the literature that explores the link between politics and health. We argue that public employment, as an instrument of pro-redistributive policies in both the labor market and the welfare state, improves equality and ultimately health. Second, based on a cross-country dataset from the 1980s, and by applying regression analysis and outlier identification techniques, we find that population health measured by life expectancy improves with the size of public employment. The association is stronger for countries with lower income and for women. When policymakers contemplate downsizing state enterprises and government functions, they should consider the health effect of public employment.

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Does transfer of control rights and private benefits of control increase efficiency? Evidence from China’s privatization of the SOE’s

Cited by 3 publications

References 25 publications

Privatization in State-Owned Enterprises: A Systematic Literature Review

Privatization in State-Owned Enterprises: A Systematic Literature Review

The Functionality of Book-to-Market Ratio in Chinese Markets

The Relationship Between Public Sector Employment and Population Health: Evidence From the 1980s and Its Contemporary Implications

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