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Does Group Affiliation Improve Firm Performance? The Case of Chinese State-Owned Firms

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  • Huanjun Yu
  • Hans Van Ees
  • Robert Lensink

Abstract

This paper analyses the performance of state-owned business groups in China. Group affiliation can be important for economic policy evaluation since the Chinese government promotes the formation of business groups as a first step in the process of reforming state enterprises into modern corporations. The analysis applies a range of econometric techniques to a sample of 657 Chinese state-owned firms in 2005 and shows that group affiliation has a robust positive effect on performance. Group affiliation may in this respect provide a successful alternative to large-scale privatisation.

Suggested Citation

  • Huanjun Yu & Hans Van Ees & Robert Lensink, 2009. "Does Group Affiliation Improve Firm Performance? The Case of Chinese State-Owned Firms," Journal of Development Studies, Taylor & Francis Journals, vol. 45(10), pages 1615-1632.
    • Handle: RePEc:taf:jdevst:v:45:y:2009:i:10:p:1615-1632
    DOI: 10.1080/00220380902952365
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    Cited by:

    1. Ishtiaq Ahmad & Judit Oláh & József Popp & Domicián Máté, 2018. "Does Business Group Affiliation Matter for Superior Performance? Evidence from Pakistan," Sustainability, MDPI, vol. 10(9), pages 1-19, August.
    2. Xufei Ma & Jane Wenzhen Lu, 2017. "Business group affiliation as institutional linkages in China’s emerging economy: A focus on organizational traits and institutional conditions," Asia Pacific Journal of Management, Springer, vol. 34(3), pages 675-697, September.
    3. Ma, Xufei & Yiu, Daphne W. & Zhou, Nan, 2014. "Facing global economic crisis: Foreign sales, ownership groups, and corporate value," Journal of World Business, Elsevier, vol. 49(1), pages 87-100.
    4. Sylvain Marsat & Yves Mard & Fabien Roux, 2014. "Ownership structure and corporate financial performance: evidence from France [Structure de l’actionnariat et performance financière de l’entreprise : le cas français]," Post-Print hal-02156607, HAL.
    5. P. R. Weerathunga & Cheng Xiaofang & W. H. M.S. Samarathunga & P. M. B. Jayathilake, 2020. "The Relative Effect of Growth of Economy, Industry Expansion, and Firm-Specific Factors on Corporate Hotel Performance in Sri Lanka," SAGE Open, , vol. 10(2), pages 21582440209, April.
    6. Waseemullah & Arshad Hasan, 2018. "Business Group Affiliation and Firm Performance—Evidence from Pakistani Listed Firms," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 57(3), pages 351-371.

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