© 2008

Corporate Control and Enterprise Reform in China

An Econometric Analysis of Block Share Trades

  • Authors

Part of the Contributions to Economics book series (CE)

About this book


This study sheds light on the efficiency of corporate control allocation in Chinese listed firms. Using a panel data set for the period 1996 to 2006, it examines the frequency, causes and consequences of changes in corporate control. The results indicate that poorly performing firms are the predominant targets of control changes; shareholder and creditor control generally act as a complement for changes in control. Following the change in ownership there is a substantial amount of corporate restructuring and an improvement in operating performance. Significant differences in these dimensions emerge, however, between State and private transfers of control. The findings not only provide insights into the motives and constraints of the key players involved in governance practices in China; but they also contain useful implications for other emerging markets around the world that have weak legal systems and weak property rights protection.


China Corporate Control Corporate Governance Governance Privatization Public versus Private Ownership Restructuring

Bibliographic information

  • Book Title Corporate Control and Enterprise Reform in China
  • Book Subtitle An Econometric Analysis of Block Share Trades
  • Authors Christian Büchelhofer
  • Series Title Contributions to Economics
  • DOI
  • Copyright Information Physica-Verlag Heidelberg 2008
  • Publisher Name Physica-Verlag HD
  • eBook Packages Business and Economics Economics and Finance (R0)
  • Hardcover ISBN 978-3-7908-2019-5
  • Softcover ISBN 978-3-7908-2546-6
  • eBook ISBN 978-3-7908-2020-1
  • Series ISSN 1431-1933
  • Edition Number 1
  • Number of Pages XI, 115
  • Number of Illustrations 0 b/w illustrations, 0 illustrations in colour
  • Topics Development Economics
    Industrial Organization
    Finance, general
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