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The roles of corporatization and stock market listing in reforming China's state industry

Zhang, LY; (2004) The roles of corporatization and stock market listing in reforming China's state industry. WORLD DEV , 32 (12) 2031 - 2047. 10.1016/j.worlddev.2004.08.003.

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Abstract

This article provides an overview of China's on-going efforts to reform its industrial state-owned enterprises (SOEs) through corporatization and stock market listing, and assesses the effects on the performance of these SOEs. It highlights changes, though limited, in both ownership pattern and corporate governance on the one hand, and rapid increase in concentration on the other as a result of these reform measures. It also explores the reasons why these changes have failed to significantly improve the performance of the SOEs, but have nevertheless paved the way for more complete privatization. The practical implications of these findings are also discussed. (C) 2004 Elsevier Ltd. All rights reserved.

Type:Article
Title:The roles of corporatization and stock market listing in reforming China's state industry
DOI:10.1016/j.worlddev.2004.08.003
Keywords:China, industry, performance, corporatization, stock market listing, ENTERPRISES, PERFORMANCE, INCENTIVES, OWNERSHIP, IMPACT, COSTS, FIRM
UCL classification:UCL > School of BEAMS > Faculty of the Built Environment > Development Planning Unit

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