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Control Transfers, Privatization, and Corporate Performance: Efficiency Gains in China's Listed Companies

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Cited by:

  1. Kong, Dongmin & Kong, Gaowen & Liu, Shasha & Zhu, Ling, 2022. "Does competition cause government decentralization? The case of state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 50(4), pages 1103-1122.
  2. Peng, Fei & Kang, Lili & Jiang, Jun, 2011. "Selection and institutional shareholder activism in Chinese acquisitions," MPRA Paper 38701, University Library of Munich, Germany.
  3. Wei Huang & Hong Zhang & Abhinav Goyal & Jason Laws, 2019. "Internal capital market mergers in weak external market environment: An emerging market evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 1486-1505, October.
  4. Chen, Deqiu & Li, Sifei & Xiao, Jason Zezhong & Zou, Hong, 2014. "The effect of government quality on corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 384-400.
  5. Ma, Liangbo & Ma, Shiguang & Tian, Gary, 2013. "Political connections, founder-managers, and their impact on tunneling in China's listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 24(C), pages 312-339.
  6. Uddin, Md Hamid, 2016. "Effect of government share ownership on corporate risk taking: Case of the United Arab Emirates," Research in International Business and Finance, Elsevier, vol. 36(C), pages 322-339.
  7. Chu, Chien Chi & Chang, Chiao Yi & Zhou, Rui Jie, 2021. "The nonlinear connection between 52-week high and announcement effect of insider trading — Evidence from mainland China and Taiwan," Economic Modelling, Elsevier, vol. 94(C), pages 1043-1057.
  8. Liu, Ye & An, Yunbi & Zhang, Jinqing, 2016. "Bribe payments under regulatory decentralization: Evidence from rights offering regulations in China," Journal of Banking & Finance, Elsevier, vol. 63(C), pages 61-75.
  9. Huacheng Wang & Kangtao Ye & Kai Zhong, 2018. "Accounting research in China: commemorating the 40th anniversary of reform and opening up," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-37, December.
  10. Pan, Xia & Cheng, Wenyin & Gao, Yuning, 2022. "The impact of privatization of state-owned enterprises on innovation in China: A tale of privatization degree," Technovation, Elsevier, vol. 118(C).
  11. Firth, Michael & Lin, Chen & Liu, Ping & Wong, Sonia M.L., 2009. "Inside the black box: Bank credit allocation in China's private sector," Journal of Banking & Finance, Elsevier, vol. 33(6), pages 1144-1155, June.
  12. Rong, Zhao & Wu, Xiaokai & Boeing, Philipp, 2017. "The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms," Research Policy, Elsevier, vol. 46(9), pages 1533-1551.
  13. Ding, Mingfa, 2014. "Political Connections and Stock Liquidity: Political Network, Hierarchy and Intervention," Knut Wicksell Working Paper Series 2014/7, Lund University, Knut Wicksell Centre for Financial Studies.
  14. Xiaoyan Chen, 2017. "Improved corporate governance and Chinese seasoned equity offering announcement effects," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(2), pages 401-428, June.
  15. Jiang, Wei & Adams, Mike & Jia-Upreti, Joy, 2012. "Does managerial entrenchment motivate the insurance decision?," International Review of Financial Analysis, Elsevier, vol. 24(C), pages 117-128.
  16. Hou, Wenxuan & Kuo, Jing-Ming & Lee, Edward, 2012. "The impact of state ownership on share price informativeness: The case of the Split Share Structure Reform in China," The British Accounting Review, Elsevier, vol. 44(4), pages 248-261.
  17. Wang, Caiping & Xu, Honggang, 2014. "The role of local government and the private sector in China's tourism industry," Tourism Management, Elsevier, vol. 45(C), pages 95-105.
  18. Jin, Hong-min & Su, Zhong-qin & Wang, Lu & Xiao, Zuoping, 2022. "Do academic independent directors matter? Evidence from stock price crash risk," Journal of Business Research, Elsevier, vol. 144(C), pages 1129-1148.
  19. Ole-Kristian Hope & Han Wu & Wuyang Zhao, 2017. "Blockholder exit threats in the presence of private benefits of control," Review of Accounting Studies, Springer, vol. 22(2), pages 873-902, June.
  20. Xiaoyi Ren & Xing Liu & Zongtao Tian, 2020. "Excess perks in SOEs: evidence from China," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 34(2), pages 152-165, November.
  21. Zhang, Li, 2020. "The effects of trading rights and ownership structures on the informativeness of accounting earnings: Evidence from China’ split share structure reform," Research in International Business and Finance, Elsevier, vol. 51(C).
  22. Jiang, Fuxiu & Ma, Yunbiao & Wang, Xue, 2020. "Multiple blockholders and earnings management," Journal of Corporate Finance, Elsevier, vol. 64(C).
  23. Eng, Li Li & Fang, Hanqing & Tian, Xi & Yu, T. Robert & Zhang, Hongxian, 2019. "Financial crisis and real earnings management in family firms: A comparison between China and the United States," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 184-201.
  24. Huang, Hung-Yi & Ho, Kung-Cheng, 2020. "Liquidity, earnings management, and stock expected returns," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
  25. Borisova, Ginka & Cowan, Arnold R., 2014. "Government asset sales, economic nationalism, and acquirer wealth effects," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 351-368.
  26. Huang, Zhangkai & Liu, Jinyu & Ma, Guangrong & Xu, Lixin Colin, 2024. "Political determinants of privatizations in China: A natural experiment based on politician career concerns," Journal of Corporate Finance, Elsevier, vol. 87(C).
  27. Rim Ben Hassen & Omri Abdelwahed, 2014. "Privatization of Tunisian Companies: A Study of Corporate Governance Mechanisms," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 94-104, April.
  28. Ang, James & Knill, April & Mauck, Nathan, 2017. "Cross-border opportunity sets: An international empirical study based on ownership types," Global Finance Journal, Elsevier, vol. 33(C), pages 1-26.
  29. Ng, Alex & Yuce, Ayse & Chen, Eason, 2009. "Determinants of state equity ownership, and its effect on value/performance: China's privatized firms," Pacific-Basin Finance Journal, Elsevier, vol. 17(4), pages 413-443, September.
  30. Peng, Fei & Anwar, Sajid & Kang, Lili, 2020. "Institutional monitoring, coordination and corporate acquisitions in China," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
  31. Wei Li & Yaping Wang & Liansheng Wu & Jason Zezhong Xiao, 2017. "The Ethical Dimension of Management Ownership in China," Journal of Business Ethics, Springer, vol. 141(2), pages 381-392, March.
  32. Fan, Rui & Pan, Jianping & Yu, Minggui & Gao, Hao, 2022. "Corporate governance of controlling shareholders and labor employment decisions: Evidence from a parent board reform in China," Economic Modelling, Elsevier, vol. 108(C).
  33. Xinyu Yu & Ping Wang, 2020. "Government control and the value of cash: evidence from listed firms in China," Review of Quantitative Finance and Accounting, Springer, vol. 55(4), pages 1341-1369, November.
  34. Wenxuan Hou & Geoff Moore, 2010. "Player and Referee Roles Held Jointly: The Effect of State Ownership on China’s Regulatory Enforcement Against Fraud," Journal of Business Ethics, Springer, vol. 95(2), pages 317-335, September.
  35. Huobao Xie & Weiwei Yang & Qingyuan Li, 2022. "Can New Private Shareholders Help Improve SOEs' Total Factor Productivity? Evidence from the Chinese Listed SOEs," Annals of Economics and Finance, Society for AEF, vol. 23(1), pages 23-62, May.
  36. Chen, Gongmeng & Firth, Michael & Xu, Liping, 2009. "Does the type of ownership control matter? Evidence from China's listed companies," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 171-181, January.
  37. Fuxiu Jiang & Kenneth A Kim, 2020. "Corporate Governance in China: A Survey [The role of boards of directors in corporate governance: a conceptual framework and survey]," Review of Finance, European Finance Association, vol. 24(4), pages 733-772.
  38. Enci Wang & Jianyun Nie & Hong Zhan, 2022. "The Impact of Carbon Emissions Trading on the Profitability and Debt Burden of Listed Companies," Sustainability, MDPI, vol. 14(20), pages 1-20, October.
  39. Tao, Qizhi & Li, Haoyu & Wu, Qun & Zhang, Ting & Zhu, Yingjun, 2019. "The dark side of board network centrality: Evidence from merger performance," Journal of Business Research, Elsevier, vol. 104(C), pages 215-232.
  40. Shawn Bolouki & Peter Lewa, 2018. "An Exploratory Study of the Impact of Top Leadership on Effectiveness of Privatization of Hospitals Through Mergers and Acquisitions in Kenya," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 9(3), pages 54-87, August.
  41. Lin, Tsui-Jung & Chen, Yi-Pei & Tsai, Han-Fang, 2017. "The relationship among information asymmetry, dividend policy and ownership structure," Finance Research Letters, Elsevier, vol. 20(C), pages 1-12.
  42. Michael Firth & Sonia Wong & Yong Yang, 2014. "The double-edged sword of CEO/chairperson duality in corporatized state-owned firms: evidence from top management turnover in China," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(1), pages 207-244, February.
  43. Jiandong Chen & Douglas Cumming & Wenxuan Hou & Edward Lee, 2016. "CEO Accountability for Corporate Fraud: Evidence from the Split Share Structure Reform in China," Journal of Business Ethics, Springer, vol. 138(4), pages 787-806, November.
  44. Jean J. Chen & Haitao Zhang, 2014. "The Impact of the Corporate Governance Code on Earnings Management – Evidence from Chinese Listed Companies," European Financial Management, European Financial Management Association, vol. 20(3), pages 596-632, June.
  45. Ma, Ming & Sun, Xian & Waisman, Maya & Zhu, Yun, 2016. "State ownership and market liberalization: Evidence from China's domestic M&A market," Journal of International Money and Finance, Elsevier, vol. 69(C), pages 205-223.
  46. Liu, Jinyu & Wang, Zhengwei & Zhu, Wuxiang, 2021. "Does privatization reform alleviate ownership discrimination? Evidence from the Split-share structure reform in China," Journal of Corporate Finance, Elsevier, vol. 66(C).
  47. Zhao, Yiran & Cai, Jianfeng, 2024. "Effects of M&A Type on Top Management Turnover: Moderating Role of Industry Similarity & Target Experience," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 1130-1144.
  48. repec:hur:ijaraf:v:4:y:2014:i:2:p:98-108 is not listed on IDEAS
  49. Quang Minh Nguyen, 2023. "Impact of privatization on firm performance in Vietnam: A Staggered Difference-in-Differences analysis with heterogeneous treatment effects," Documentos de Trabajo EH-Valencia (DT-EHV) 2303, Economic History group at the Universitat de Valencia.
  50. Shan, Liwei & Gong, Stephen X., 2012. "Investor sentiment and stock returns: Wenchuan Earthquake," Finance Research Letters, Elsevier, vol. 9(1), pages 36-47.
  51. Bin Liu & Gongming Qian & Jane Wenzhen Lu & Diya Shu, 2024. "Listing pathway, industry competition and internationalization: the case of Chinese family firms," Asia Pacific Journal of Management, Springer, vol. 41(3), pages 1515-1543, September.
  52. Raymond Fisman & Yongxiang Wang, 2015. "Corruption in Chinese Privatizations," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 31(1), pages 1-29.
  53. An, Can & Pan, Xiaofei & Tian, Gary Gang, 2014. "Ownership structure and collateral requirements: Evidence from China's listed firms," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 168-178.
  54. Lin, Tsui-Jung & Tsai, Han-Fang & Imamah, Nur & Hung, Jung-Hua, 2016. "Does the identity of multiple large shareholders affect the value of excess cash? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 40(PA), pages 173-190.
  55. Xiaochun Li & Tiantian Jia, 2022. "Partial privatization, producer services, and unemployment in developing countries," Review of Development Economics, Wiley Blackwell, vol. 26(1), pages 423-441, February.
  56. Ang, James & Knill, April & Mauck, Nathan, 2014. "Investment Opportunity Sets of Real Assets: An International Empirical Study Based on Ownership Types," MPRA Paper 53359, University Library of Munich, Germany.
  57. Ding, Shujun & Jia, Chunxin & Wu, Zhenyu & Zhang, Xiaoqing, 2014. "Executive political connections and firm performance: Comparative evidence from privately-controlled and state-owned enterprises," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 153-167.
  58. Landoni, Matteo, 2020. "Knowledge creation in state-owned enterprises," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 77-85.
  59. Firth, Michael & Gong, Stephen X. & Shan, Liwei, 2013. "Cost of government and firm value," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 136-152.
  60. Amon Chizema & Wei Jiang & Jing-Ming Kuo & Xiaoqi Song, 2020. "Mutual funds, tunneling and firm performance: evidence from China," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 355-387, July.
  61. Guoqian Tu & Frank Yu, 2015. "Tunneling or Not? The Change of Legal Environment on the Effect of Post-Privatization Performance," Journal of Business Ethics, Springer, vol. 129(2), pages 491-510, June.
  62. Hu, Jun & Li, Antai & Luo, Yonggen, 2019. "CEO early life experiences and cash holding: Evidence from China's great famine," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
  63. Kuo, Jing-Ming & Ning, Lutao & Song, Xiaoqi, 2014. "The Real and Accrual-based Earnings Management Behaviors: Evidence from the Split Share Structure Reform in China," The International Journal of Accounting, Elsevier, vol. 49(1), pages 101-136.
  64. Liu, Qigui & Luo, Tianpei & Tian, Gary, 2016. "Political connections with corrupt government bureaucrats and corporate M&A decisions: A natural experiment from the anti-corruption cases in China," Pacific-Basin Finance Journal, Elsevier, vol. 37(C), pages 52-80.
  65. Huang, Zhangkai & Wang, Kun, 2011. "Ultimate privatization and change in firm performance: Evidence from China," China Economic Review, Elsevier, vol. 22(1), pages 121-132, March.
  66. Yang, Zhonghai & Xiu, Xue & Xu, Meng & Zhao, Yixiu, 2024. "Noncontrolling shareholders' network centrality and corporate earnings management: Governance or conspiracy?," International Review of Financial Analysis, Elsevier, vol. 94(C).
  67. Chan, Ann Ling-Ching & Ding, Rong & Hou, Wenxuan, 2014. "Does mutual fund ownership affect financial reporting quality for Chinese privately-owned enterprises?," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 131-140.
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