Government Controlling and Firm Performance: An Empirical Study on China's Listed Companies |
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作者姓名: | Xuan Chen Weide Chun Xiaoning Zhu |
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作者单位: | [1]University of Electronic Science and Technology of China [2]University of Chengdu University of Technology/University of Southwest Jiaotong University |
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摘 要: | The current study compares the firm performance in China's listed companies by distinguishing the governance controlling of three types of state-shareholder. The results indicate that the performances in firms with direct government controlling are significantly weaker than other firms. In contrast, the performances in firms without direct government controlling are not significantly different. The results suggest that the introduction of market-oriented state-share holders is a desirable process during the transition economy in China.
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