Partial State Ownership, Political Connection, and Financing: Evidence from Chinese Publicly Listed Private Sector Enterprises

Zengji Song, Abraham Y. Nahm and Zongyi Zhang

Emerging Markets Finance and Trade, 2017, vol. 53, issue 3, 611-628

Abstract: The government of China plays an important role in the external environment of private sector enterprises (PSEs), having a significant effect on their survival and development. Therefore, managing their relationship with the government becomes a key aspect of strategic decision-making and operating actions of PSEs. We extend the evidence of this by introducing a new dimension of political connection: partial state ownership of PSEs. Using a data set of 262 publically listed PSEs in China, we empirically investigate the effects of partial state ownership of PSEs on the access to bank loans.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:53:y:2017:i:3:p:611-628

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DOI: 10.1080/1540496X.2015.1097920

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