Property Rights Protection and Allocation of Investment: Evidence from China's Private Firms

Du, Julan; Lu, Yi; Tao, Zhigang

doi:10.2139/ssrn.1222842

Cited by 5 publications

(6 citation statements)

References 102 publications

(77 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In the data obtained for this study, only the number of industries was available. This measure has been used in previous scholarly research (e.g., Du et al ., ), but as the industry categories classified in the survey were very broad (even broader than China's two‐digit SIC codes), the measure may underestimate the degree of diversification and, consequently, the impacts of diversification on performance. Moreover, owing to the industry categories offered in the survey, the diversification was more likely to be unrelated diversification.…”

Section: Methodsmentioning

confidence: 99%

“…At the end of 2008, they accounted for approximately 40% of the Chinese gross domestic product (55% of industrial output). Compared to state‐owned enterprises (SOEs) and most listed firms, private firms are disadvantaged in terms of securing bank loans (Cull and Xu, ), property rights protection (Du et al ., ), contract enforcement (McMillan and Woodruff, ), and political support (Li et al ., ). Private enterprises vary greatly but are generally smaller than most listed companies and tend to use flexibility to manage the external environment and change (Redding, ; Redding and Witt, ).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Diversification Strategy, Ownership Structure, and Financial Crisis: Performance of Chinese Private Firms

Shen

2018

Asia-Pac J of Fin Stud

View full text Add to dashboard Cite

The relationship between diversification and firm performance varies among institutions and over time. Less is known about the advantageousness of diversification in economy-wide crises, which have occurred frequently in recent years. Using data on nearly 4000 Chinese private companies, we found that diversified firms performed better than focused firms during the recent global financial crisis. The diversification level was positively and linearly related to performance, that is, more diversified firms performed better. Moreover, we found that private firms that are totally owned by the founding owner and his/her family performed worse under crisis.

show abstract

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Diversification Strategy, Ownership Structure, and Financial Crisis: Performance of Chinese Private Firms

Shen

2018

Asia-Pac J of Fin Stud

View full text Add to dashboard Cite

show abstract

“…Two dependent variables are used to 9 This dataset has been used by others, e.g., Bai, Lu, and Tao (2006) in a study of private enterprises' access to bank loans; Li, Meng, Wang, and Zhou (2008) in a study of entrepreneurial party membership and enterprise performance; and Du, Lu, and Tao (2008) in a study examining the impact of property rights protection on enterprise diversification. study enterprise performance: Labor Productivity (the logarithm of output divided by total employment) and Profitability (profits divided by total fixed assets).…”

Section: Data and Variablesmentioning

confidence: 99%

Union effects on performance and employment relations: Evidence from China

Lu¹,

Tao²,

Wang³

2010

China Economic Review

Self Cite

View full text Add to dashboard Cite

Abstract:This paper empirically studies union effects on the performance of, and employment relations in, China's private enterprises. The study finds a positive and statistically significant union effect on labor productivity, but not on profitability. It further finds that unions lead to better employee benefits and increased contract signing in employment. These findings suggest that, in the era of transition from a centrally planned to a market economy, unions in China's private enterprises do promote workers' interests as unions do in other economies. And they do that without abandoning their traditional role of harmonizing employment relations, as required by the Party.

show abstract

“…This dataset has been used by others, e.g.,Bai, Lu, and Tao (2006) in a study of private enterprises' access to bank loans;Li, Meng, Wang, and Zhou (2008) in a study of entrepreneurial party membership and enterprise performance; andDu, Lu, and Tao (2008) in a study examining the impact of property rights protection on enterprise diversification.…”

mentioning

confidence: 99%

Union Effects on Performance and Employment Relations: Evidence from China

Tao

Wang

2009

SSRN Journal

Self Cite

View full text Add to dashboard Cite

This paper empirically studies union effects on the performance of, and employment relations in, China's private enterprises. The study finds a positive and statistically significant union effect on labor productivity, but not on profitability. It further finds that unions lead to better employee benefits and increased contract signing in employment. These findings suggest that, in the era of transition from a centrally planned to a market economy, unions in China's private enterprises do promote workers' interests as unions do in other economies. And they do that without abandoning their traditional role of harmonizing employment relations, as required by the Party.

show abstract

Property Rights Protection and Allocation of Investment: Evidence from China's Private Firms

Cited by 5 publications

References 102 publications

Diversification Strategy, Ownership Structure, and Financial Crisis: Performance of Chinese Private Firms

Diversification Strategy, Ownership Structure, and Financial Crisis: Performance of Chinese Private Firms

Union effects on performance and employment relations: Evidence from China

Union Effects on Performance and Employment Relations: Evidence from China

Contact Info

Product

Resources

About