The performance impact of firm ownership transformation in China: mixed ownership vs. fully privatised ownership

Guy S. Liu, John Beirne and Pei Sun

Journal of Chinese Economic and Business Studies, 2015, vol. 13, issue 3, 197-216

Abstract: Does ownership transformation affect firm performance? On the basis of an analysis of over 1100 Chinese companies during the period of ownership reform (1997--2003), this paper identifies that, for China that has the world’s largest state sector under transition, the mix of state and private ownership -- partial privatisation -- emerges as the best performing type of ownership model for Chinese firms. The finding supports the argument that firms can gain the best synergy of both state support and private business strength, which provides a good explanation to the current campaign of mixed ownership for further reform of state enterprises after 2013.

Date: 2015
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DOI: 10.1080/14765284.2015.1056476

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