Marketization level, government intervention and firm M&As: evidence from the local SOEs in China

Dan Yang, Guojun Wang and Mokai Lu

Applied Economics Letters, 2020, vol. 27, issue 5, 378-382

Abstract: The state-owned enterprises (SOEs) in China are commonly criticized due to their decision-making being intervened by the government. In this article, we present that the marketization level restrains the local government’s intervention in the local SOEs’ mergers and acquisitions (M&As); and the restraining impact is enhanced in the local SOEs, especially on their diversified M&As, when the government possesses stronger power in the firms. The article sheds lights on theories of market segmentation and government intervention in an emerging economy where interventionist governments commonly exist.

Date: 2020
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DOI: 10.1080/13504851.2019.1616059

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