Under New Ownership: Privatizing China's State-owned EnterprisesStanford University Press, 2006 - 284 páginas Although the relative size of the public sector has been much reduced worldwide since the early 1980s, it remains the dominant borrower from the banking system and responsible for the majority of the non-performing assets of banks. Drawing upon new firm-level survey data, this volume assesses how changes in the ownership structure of SOEs affect management, governance, innovation, and performance, comparing these SOEs to other types of firms in China. It also considers China's reform efforts against the experiences of other transition economies. The research reveals that the medium- and longer-term gains from privatization far outweigh costs of adjustment and that the precise mechanics of privatization have little effect on outcomes. The volume argues that privatization of large industrial SOEs and market-based consolidation of small- and medium-sized enterprises will be necessary to transform them into competitive and innovative world-class firms. Chapters include: China's Industrial System: Where is it, Where it Should be Headed, and Why; Reform in China, 1978-1997; The Accelerated Change in Enterprise Ownership, 1997-2003; Chinese Ownership Reform in the East European Mirror; Empirical Evidence on the Effect of SOE Reform in China; and Making Privatization Work. |
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Página 46
... billion figure would convert to 3,300 billion yuan , but not all of this went to industry since there were also large invest- ments in real estate and hotels . The total assets of all Chinese industry in 2001 were 13,540 billion yuan ...
... billion figure would convert to 3,300 billion yuan , but not all of this went to industry since there were also large invest- ments in real estate and hotels . The total assets of all Chinese industry in 2001 were 13,540 billion yuan ...
Página 72
... billion yuan in shares were issued and sold . By 1997 there were 745 listed companies , mostly former SOES , and the stocks issued and sold that year amounted to 26.8 billion yuan . The total value of issued shares by 1997 was 1,715.4 ...
... billion yuan in shares were issued and sold . By 1997 there were 745 listed companies , mostly former SOES , and the stocks issued and sold that year amounted to 26.8 billion yuan . The total value of issued shares by 1997 was 1,715.4 ...
Página 109
... billion yuan in state enterprise debt ; and in 1999 the government converted 350 billion yuan in state enterprise debt of these banks ( or of the asset management companies ) into equity shares ( Lin and Zhu 2001 ) . But the leap in ...
... billion yuan in state enterprise debt ; and in 1999 the government converted 350 billion yuan in state enterprise debt of these banks ( or of the asset management companies ) into equity shares ( Lin and Zhu 2001 ) . But the leap in ...
Contenido
Where It Is Now Where It Should | 1 |
Tables | 3 |
Productivity Dynamics | 9 |
Derechos de autor | |
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Under New Ownership: Privatizing China's State-owned Enterprises Shahid Yusuf,Kaoru Nabeshima,Dwight Heald Perkins Vista de fragmentos - 2006 |
Términos y frases comunes
assets autonomy banks Beijing billion yuan board of directors capital central changes chapter Chinese industry Chongqing companies competition policy Consumer products corporate governance corporatization costs countries Czech Republic Djankov domestic dummy East Asian effect efficiency efforts Electronic equipment employees enterprise managers enterprise reform estimates findings firm performance foreign Garments & leather global groups growth Guangzhou Huawei improve incentives increase industrial output innovation inputs institutions investment joint ventures keiretsu Lenovo LLSCs loans managerial manufacturing market economy ment mergers and acquisitions million Model non-SOEs ownership reform percent period planning political private firms profits reformed SOEs restructuring role sample selection bias Shanghai Shenzhen significant SOE reform soft budget constraints Source state-owned enterprises strategy subsectors survey data Table Textiles tion total factor productivity transition economies TVEs value added variables vehicles and vehicle World Bank Wuhan Zhang