Does Group Affiliation Improve Firm Performance? The Case of Chinese State-Owned Firms
36 Pages Posted: 8 Feb 2008
Abstract
This paper examines, for a sample of 657 state-owned Chinese firms in 2005, whether group affiliation improves performance. By using a simple OLS regression, as well as propensity score matching, treatment effects and two-step instrumental variable methods, we find a robust positive effect of group affiliation, which suggests that state-owned firms in China may benefit from joining a business group.
Keywords: China, Business groups, Evaluation methods, propensity score matching, treatment effects
JEL Classification: G34
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
A Survey of Corporate Governance
By Andrei Shleifer and Robert W. Vishny
-
The Separation of Ownership and Control in East Asian Corporations
By Stijn Claessens, Simeon Djankov, ...
-
One Share/One Vote and the Market for Corporate Control
By Sanford J. Grossman and Oliver Hart