Abstract

http://ssrn.com/abstract=298501
 
 

References (32)



 
 

Citations (20)



 


 



State-owned Enterprises Going Public: The Case of China


Xiaozu Wang


City University of Hong Kong (CityUHK) - Department of Economics & Finance

Lixin Colin Xu


World Bank - Development Research Group (DECRG)

Tian Zhu


Hong Kong University of Science & Technology - Division of Social Science

December 2001

HKUST Social Science Working Paper

Abstract:     
Public listing is a key and unique reform measure for large state-owned enterprises (SOEs) in China. Using a panel data set that contains both pre- and post-listing financial and ownership information on publicly listed firms in Shanghai and Shenzhen Stock Exchanges, we explore the effects of public listing in China. We find that using public listings as a means to reform SOEs has not worked wonders: company performance in the post-listing years are sharply lower than their levels in both the pre-listing years and the initial public offering years. Moreover, the effects of public listing on performance are not significantly affected by the percentage of state shares or of the total shares held by top shareholders.

Number of Pages in PDF File: 29

Keywords: state-owned enterprises, public listing, corporatization, reform, China

JEL Classification: P31, P27, G30

working papers series


Download This Paper

Date posted: February 8, 2002  

Suggested Citation

Wang, Xiaozu and Xu, Lixin Colin and Zhu, Tian, State-owned Enterprises Going Public: The Case of China (December 2001). HKUST Social Science Working Paper. Available at SSRN: http://ssrn.com/abstract=298501 or http://dx.doi.org/10.2139/ssrn.298501

Contact Information

Xiaozu Wang
City University of Hong Kong (CityUHK) - Department of Economics & Finance ( email )
83 Tat Chee Avenue
Kowloon
Hong Kong
852 2788 7407 (Phone)
Lixin Colin Xu
World Bank - Development Research Group (DECRG) ( email )
1818 H Street, N.W.
MC 3-427
Washington, DC 20433
United States
202-473-4664 (Phone)
202-522-1155 (Fax)
HOME PAGE: http://econ.worldbank.org/staff/cxu
Tian Zhu (Contact Author)
Hong Kong University of Science & Technology - Division of Social Science ( email )
Division of Social Science
Clear Water Bay
Clear Water Bay, Kowloon
Hong Kong
Feedback to SSRN


Paper statistics
Abstract Views: 3,704
Downloads: 1,103
Download Rank: 9,607
References:  32
Citations:  20

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo2 in 0.297 seconds