Ownership and Performance in Competitive Environments - A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises

Previous articleNext article No AccessOwnership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned EnterprisesAnthony E. Boardman, and Aidan R. ViningAnthony E. Boardman Search for more articles by this author , and Aidan R. Vining Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by The Journal of Law and Economics Volume 32, Number 1Apr., 1989 Sponsored by The University of Chicago Booth School of Business and The University of Chicago Law School Article DOIhttps://doi.org/10.1086/467167 Views: 302Total views on this site Citations: 619Citations are reported from Crossref Copyright 1989 The University of ChicagoPDF download Crossref reports the following articles citing this article:Roberto Cardinale, Emanuele Belotti The rise of the shareholding state in Italy: A policy-oriented strategist or simply a shareholder? Evidence from the energy and banking sectors’ privatizations, Structural Change and Economic Dynamics 62 (Sep 2022): 52–60.https://doi.org/10.1016/j.strueco.2022.03.014Paolo Castelnovo Innovation in private and state-owned enterprises: A cross-industry analysis of patenting activity, Structural Change and Economic Dynamics 62 (Sep 2022): 98–113.https://doi.org/10.1016/j.strueco.2022.05.007Simone Gasperin Lessons from the past for 21st century systems of state-owned enterprises: The case of Italy's IRI in the 1930s, Structural Change and Economic Dynamics 62 (Sep 2022): 599–612.https://doi.org/10.1016/j.strueco.2022.03.010Qing Hu, Wenjing Li, Chen Lin, Lai Wei Trade-induced competition and ownership dynamics, Journal of Development Economics 120 (Sep 2022): 102979.https://doi.org/10.1016/j.jdeveco.2022.102979Yali He, Suchang Yang, Fayyaz Ahmad, Ilhan Ozturk, Muhammad Umar Draz, Abbas Ali Chandio Investments in environmental preservation: is the government crowding in green enterprises? Evidence from a-listed companies in China, Economic Research-Ekonomska Istraživanja 4 (Aug 2022): 1–17.https://doi.org/10.1080/1331677X.2022.2106504Bjarne Steffen, Valerie Karplus, Tobias S. Schmidt State ownership and technology adoption: The case of electric utilities and renewable energy, Research Policy 51, no.66 (Jul 2022): 104534.https://doi.org/10.1016/j.respol.2022.104534Aidan Vining, Mark Moore, Claude Laurin Listed public–private enterprises: stock market information, agency costs and productive efficiency outcomes, International Journal of Public Sector Management 35, no.44 (Aug 2021): 388–409.https://doi.org/10.1108/IJPSM-02-2021-0050Samet Güner, Keziban Seçkin Codal Endogenous and exogenous sources of efficiency in the management of Turkish airports, Utilities Policy 76 (Jun 2022): 101370.https://doi.org/10.1016/j.jup.2022.101370Germà Bel, Marc Esteve, Juan Carlos Garrido, José Luis Zafra‐Gómez The costs of corporatization: Analysing the effects of forms of governance, Public Administration 100, no.22 (Jan 2021): 232–249.https://doi.org/10.1111/padm.12713Ahmed Aboud, Ahmed Diab Ownership Characteristics and Financial Performance: Evidence from Chinese Split-Share Structure Reform, Sustainability 14, no.1212 (Jun 2022): 7240.https://doi.org/10.3390/su14127240Hong Ru, Kunru Zou How Do Individual Politicians Affect Privatization? Evidence from China, Review of Finance 26, no.33 (Nov 2021): 637–672.https://doi.org/10.1093/rof/rfab030Athanasios Geromichalos, Ioannis Kospentaris The unintended consequences of meritocratic government hiring, European Economic Review 144 (May 2022): 104093.https://doi.org/10.1016/j.euroecorev.2022.104093Junlong Chen, Xinran Xie, Jiali Liu, Chuiqing Rong Privatisation policy with different oligopolistic competition in the public utilities market, Economic Research-Ekonomska Istraživanja 19 (Apr 2022): 1–23.https://doi.org/10.1080/1331677X.2022.2048188Wahyu Apriyantopo, Atik Aprianingsih, Mandra Lazuardi Kitri State-owned enterprises’ performance in Indonesia: a strategic typology perspective, Competitiveness Review: An International Business Journal 69 (Mar 2022).https://doi.org/10.1108/CR-01-2021-0019Hongwei Liao, Mingyue Li, Ari Van Assche, Jiaojiao Zheng, Liangping Yang Building world-class enterprises though mixed-ownership reform: explaining performance differences in minority and majority state-owned enterprises, Chinese Management Studies 25 (Feb 2022).https://doi.org/10.1108/CMS-03-2021-0084William L. Megginson, Peter C. Mueller Natural Monopoly Privatization: Minimizing Regulatory Trade-Offs Between Rent Extraction and Innovation, Academy of Management Perspectives 36, no.11 (Feb 2022): 111–124.https://doi.org/10.5465/amp.2019.0170Alessandra Tafuro, Giuseppe Dammacco, Paolo Esposito, Giovanni Mastroleo Rethinking performance measurement models using a fuzzy logic system approach: a performative exploration on ownership in waste management, Socio-Economic Planning Sciences 79 (Feb 2022): 101092.https://doi.org/10.1016/j.seps.2021.101092Jiafeng Gu Spatiotemporal dynamics of the patent race: empirical evidence from listed companies in China, Asian Journal of Technology Innovation 30, no.11 (Oct 2020): 106–133.https://doi.org/10.1080/19761597.2020.1830813Haichao Fan, Cui Hu, Faqin Lin, Huanhuan Wang Trade liberalization and decentralization of state‐owned enterprises: Evidence from China, Economic Inquiry 60, no.11 (Jul 2021): 224–246.https://doi.org/10.1111/ecin.13014I. Chhabra, S. Gupta, V. K. Gupta State ownership and firm performance: A performance evaluation of disinvested public sector enterprises, Finance: Theory and Practice 25, no.66 (Dec 2021): 29–39.https://doi.org/10.26794/2587-5671-2021-25-6-29-39Hai Thanh Nguyen How does the productivity of foreign-invested enterprises spill over to domestic firms in Vietnamese manufacturing?, Journal of the Asia Pacific Economy 67 (Dec 2021): 1–36.https://doi.org/10.1080/13547860.2021.2009625Duygu ARSLANTÜRK ÇÖLLÜ, Emine KAYA The Nexus between Public Fixed Capital Investments and Performance of State Owned Enterprises, Uluslararası İktisadi ve İdari İncelemeler Dergisi (Dec 2021).https://doi.org/10.18092/ulikidince.1027876Bin Ke, Lanfang Wang Mixed ownership and firm performance: Evidence from the Chinese venture capital industry, Emerging Markets Review 49 (Dec 2021): 100759.https://doi.org/10.1016/j.ememar.2020.100759Álvaro Costa, Carlos Oliveira Cruz, Joaquim Miranda Sarmento, Vitor Faria Sousa Empirical Analysis of the Effects of Ownership Model (Public vs. Private) on the Efficiency of Urban Rail Firms, Sustainability 13, no.2323 (Dec 2021): 13346.https://doi.org/10.3390/su132313346Meenakshi Parida, S. Madheswaran Does ownership matter? Empirical evidence from the performance of Indian state and private coal mining companies, Resources Policy 74 (Dec 2021): 102388.https://doi.org/10.1016/j.resourpol.2021.102388Alejandro Quiroz Flores, Katharina Pfaff Private provision of public goods and political survival: Rail transport in four European democracies in the 20th century, Research in Transportation Economics 90 (Dec 2021): 101046.https://doi.org/10.1016/j.retrec.2021.101046Nguyet Thi Minh Phi, Farhad Taghizadeh-Hesary, Chuc Anh Tu, Naoyuki Yoshino, Chul Ju Kim Performance Differential between Private and State-owned Enterprises: An Analysis of Profitability and Solvency, Emerging Markets Finance and Trade 57, no.1414 (Aug 2020): 3913–3928.https://doi.org/10.1080/1540496X.2020.1809375Nadia Vanteeva, Charles Hickson Evidence of Sustained Russian Corporate Growth despite International Liquidity and Trade Shocks, Eastern European Economics 59, no.66 (Oct 2021): 513–536.https://doi.org/10.1080/00128775.2021.1986073Alejandro Egüez District heating network ownership and prices: The case of an unregulated natural monopoly, Utilities Policy 72 (Oct 2021): 101252.https://doi.org/10.1016/j.jup.2021.101252Ahmad Yuosef Alodat, Zalailah Salleh, Hafiza Aishah Hashim, Farizah Sulong Corporate governance and firm performance: empirical evidence from Jordan, Journal of Financial Reporting and Accounting 23 (Aug 2021).https://doi.org/10.1108/JFRA-12-2020-0361Paasha Mahdavi Power Grab, 41 (Mar 2020).https://doi.org/10.1017/9781108781350Gabriella D'Amore, Loris Landriani, Luigi Lepore Ownership and sustainability of Italian water utilities: The stakeholder role, Utilities Policy 71 (Aug 2021): 101228.https://doi.org/10.1016/j.jup.2021.101228Mislav Radić, Davide Ravasi, Kamal Munir Privatization: Implications of a Shift from State to Private Ownership, Journal of Management 47, no.66 (Feb 2021): 1596–1629.https://doi.org/10.1177/0149206320988356Gabriele Lattanzio, William L. Megginson Can Restructuring Gains Be Sustained Without Ownership Changes? Evidence from Withdrawn Privatizations, Journal of Financial and Quantitative Analysis 56, no.44 (Aug 2020): 1476–1504.https://doi.org/10.1017/S0022109020000253Li-Chuan Tsai, Ruhui Zhang, Cui-Fang Zhao Revisiting Corporate Political Connections Using Social Networks and Prediction of Post-IPO Performance, Emerging Markets Finance and Trade 57, no.77 (Aug 2019): 2120–2137.https://doi.org/10.1080/1540496X.2019.1646125Luis Alfonso Dau, Elizabeth M. Moore, Jonathan P. Doh, Margaret A. Soto Does global integration stimulate corporate citizenship? The effect of international trade agreements and regulatory quality on state and private firm adoption of CSR standards, Journal of International Business Policy 2 (Apr 2021).https://doi.org/10.1057/s42214-021-00104-xMeenakshi Parida, S. Madheswaran Effect of firm ownership on productivity: empirical evidence from the Indian mining industry, Mineral Economics 34, no.11 (May 2020): 87–103.https://doi.org/10.1007/s13563-020-00223-6 Isharyanto, J A Husodo, M Madalina The legal risk to sustainable role of State-Owned Enterprises management in Indonesia, IOP Conference Series: Earth and Environmental Science 724, no.11 (Apr 2021): 012090.https://doi.org/10.1088/1755-1315/724/1/012090Sergio Mariotti, Riccardo Marzano Institutions, Corporate Governance, and Internationalization of State-owned Enterprises in a Varieties of Capitalism Framework 1, (Mar 2021): 107–127.https://doi.org/10.1108/S1745-886220210000015008Jieun Choi Service firm performance and foreign ownership, Industrial and Corporate Change 29, no.55 (Jul 2020): 1119–1143.https://doi.org/10.1093/icc/dtz055Bushra Komal, Bilal, Ernest Ezeani, Asim Shahzad, Muhammad Usman, Juncheng Sun Age diversity of audit committee financial experts, ownership structure and earnings management: Evidence from China, International Journal of Finance & Economics 9 (Feb 2021).https://doi.org/10.1002/ijfe.2556Massimiliano Agovino, Massimiliano Cerciello, Antonio Garofalo, Loris Landriani, Luigi Lepore Corporate governance and sustainability in water utilities. The effects of decorporatisation in the city of Naples, Italy, Business Strategy and the Environment 30, no.22 (Oct 2020): 874–890.https://doi.org/10.1002/bse.2659Cali Curley, Nicky Harrison, Corey Kewei Xu, Shan Zhou Collaboration mitigates barriers of utility ownership on policy adoption: evidence from the United States, Journal of Environmental Planning and Management 64, no.11 (May 2020): 124–144.https://doi.org/10.1080/09640568.2020.1755241Xiaozhen Pan, Hongfei Tang Are both managerial morality and talent important to firm performance? Evidence from Chinese public firms, International Review of Financial Analysis 73 (Jan 2021): 101602.https://doi.org/10.1016/j.irfa.2020.101602Ruth Aguilera, Patricio Duran, P.P.M.A.R. Heugens, Steve Sauerwald, Roxana Turturea, Marc VanEssen State ownership, political ideology, and firm performance around the world, Journal of World Business 56, no.11 (Jan 2021): 101113.https://doi.org/10.1016/j.jwb.2020.101113Andabai Priye Werigbelegha Fiscal Policy and the Performance of Private Sector in Nigeria (1990-2019): A Vector Error Correction Investigation, African Journal of Accounting and Financial Research 4, no.22 (Jul 2021): 94–103.https://doi.org/10.52589/AJAFR-TF39IX73Jiang Yun, Hassan Ahmad, Khalil Jebran, Sher Muhammad Cash holdings and firm performance relationship: Do firm-specific factors matter?, Economic Research-Ekonomska Istraživanja 34, no.11 (Oct 2020): 1283–1305.https://doi.org/10.1080/1331677X.2020.1823241Aman Gupta, Sushil Kumar Comparing the performance of public and private enterprises: case for a reappraisal – evidence from India, International Journal of Public Sector Management 34, no.11 (Nov 2020): 87–100.https://doi.org/10.1108/IJPSM-04-2020-0117Mona Bahl, Aldas Kriauciunas, Thomas H Brush How do ownership type and knowledge transfer influence success of change? A study of transition economy firms, Global Strategy Journal 10, no.44 (Jan 2020): 861–884.https://doi.org/10.1002/gsj.1367David Wehrheim, Hakkı Doğan Dalay, Andrea Fosfuri, Christian Helmers How mixed ownership affects decision making in turbulent times: Evidence from the digital revolution in telecommunications, Journal of Corporate Finance 64 (Oct 2020): 101626.https://doi.org/10.1016/j.jcorpfin.2020.101626Veljko Fotak, Haekwon Lee Public-private co-lending: Evidence from syndicated corporate loans, Journal of Banking & Finance 119 (Oct 2020): 105898.https://doi.org/10.1016/j.jbankfin.2020.105898Carlos Inoue Election Cycles and Organizations: How Politics Shapes the Performance of State-owned Enterprises over Time, Administrative Science Quarterly 65, no.33 (Aug 2019): 677–709.https://doi.org/10.1177/0001839219869913Hao Chen, Meg Rithmire The Rise of the Investor State: State Capital in the Chinese Economy, Studies in Comparative International Development 55, no.33 (Jul 2020): 257–277.https://doi.org/10.1007/s12116-020-09308-3Bart Voorn, Rick T. Borst, Rutger Blom Business techniques as an explanation of the autonomy-performance link in corporatized entities: evidence from Dutch Municipally owned corporations, International Public Management Journal (Aug 2020): 1–17.https://doi.org/10.1080/10967494.2020.1802632David Lindermüller, Matthias Sohn, Bernhard Hirsch Trading off financial and non-financial performance information to evaluate state-owned enterprise performance – a process tracing-experiment, International Public Management Journal 70 (Aug 2020): 1–21.https://doi.org/10.1080/10967494.2020.1799888Paolo Esposito, Spiridione Lucio Dicorato Sustainable Development, Governance and Performance Measurement in Public Private Partnerships (PPPs): A Methodological Proposal, Sustainability 12, no.1414 (Jul 2020): 5696.https://doi.org/10.3390/su12145696Po-yang Yu, Ching-chong Lai Optimal Privatization and Economic Growth in a Schumpeterian Economy, Journal of Macroeconomics 64 (Jun 2020): 103205.https://doi.org/10.1016/j.jmacro.2020.103205Bart Voorn, Marieke Genugten, Sandra Van Thiel Performance of municipally owned corporations: Determinants and mechanisms, Annals of Public and Cooperative Economics 91, no.22 (Mar 2020): 191–212.https://doi.org/10.1111/apce.12268Matteo Landoni Knowledge creation in state-owned enterprises, Structural Change and Economic Dynamics 53 (Jun 2020): 77–85.https://doi.org/10.1016/j.strueco.2020.01.001Rui Cunha Marques, Pedro Simões Revisiting the Comparison of Public and Private Water Service Provision: An Empirical Study in Portugal, Water 12, no.55 (May 2020): 1477.https://doi.org/10.3390/w12051477Zhanguang Chen, Qiaowan Wang, Chao Dou, Tian Liang Government Background Customers and Private Enterprise Innovation from the Perspective of Supply Chain Risk Transmission, Sustainability 12, no.88 (Apr 2020): 3193.https://doi.org/10.3390/su12083193Barnabé Walheer, Ming He Technical efficiency and technology gap of the manufacturing industry in China: Does firm ownership matter?, World Development 127 (Mar 2020): 104769.https://doi.org/10.1016/j.worlddev.2019.104769Abhinav Goyal, Shrikant P. Jategaonkar, Cal B. Muckley Why do privatized firms pay higher dividends?, Journal of Corporate Finance 60 (Feb 2020): 101493.https://doi.org/10.1016/j.jcorpfin.2019.101493Akira Matsuoka Remember the balance of forces, Journal of Financial Crime 27, no.44 (Jan 2020): 1379–1388.https://doi.org/10.1108/JFC-09-2019-0119Sami R.M. Musallam State ownership and firm value: simultaneous analyses approach, Journal of Asia Business Studies 14, no.11 (Jan 2020): 50–61.https://doi.org/10.1108/JABS-02-2019-0062Seema Gupta, P. K. Jain, Surendra S. Yadav Impact of Disinvestment on Transforming the Performance of Indian Public Enterprises, (Aug 2019): 33–58.https://doi.org/10.1007/978-981-13-9640-3_3Anh-Tuan Doan, Kun-Li Lin, Shuh-Chyi Doong State-controlled banks and income smoothing. Do politics matter?, The North American Journal of Economics and Finance 51 (Jan 2020): 101057.https://doi.org/10.1016/j.najef.2019.101057David Wehrheim, Hakki Dogan Dalay, Andrea Fosfuri, Christian Helmers How Mixed Ownership Affects Decision Making in Turbulent Times: Evidence From the Digital Revolution in Telecommunications, SSRN Electronic Journal (Jan 2020).https://doi.org/10.2139/ssrn.3517715Emidia Vagnoni, Chiara Oppi, Caterina Cavicchi Ownership structure and financial performance: A study of the Italian retail pharmacies, Corporate Ownership and Control 18, no.11 (Sep 2020): 22–33.https://doi.org/10.22495/cocv18i1art2Jing‐Lin DUANMU, Russell PITTMAN THE RESPONSE OF STATE‐OWNED ENTERPRISES TO IMPORT COMPETITION: EVIDENCE FROM CHINESE MANUFACTURING FIRMS, Annals of Public and Cooperative Economics 90, no.44 (May 2019): 577–613.https://doi.org/10.1111/apce.12246Hong Fan, Xiaofei Song Earnings management of Chinese central state-owned enterprises – the effects of state level incentives, Asia-Pacific Journal of Accounting & Economics 26, no.66 (Oct 2017): 643–658.https://doi.org/10.1080/16081625.2017.1386576Katsuyuki Kubo, Phan Huu Viet State ownership, sovereign wealth fund and their effects on firm performance: Empirical evidence from Vietnam, Pacific-Basin Finance Journal (Nov 2019): 101220.https://doi.org/10.1016/j.pacfin.2019.101220Evelyn Lamisi Asuah, Kwaku Ohene-Asare Ownership and dynamic efficiency of petroleum firms: a new perspective, International Journal of Energy Sector Management 14, no.22 (Oct 2019): 419–438.https://doi.org/10.1108/IJESM-05-2019-0010Ryan P. Scott, Tyler A. Scott, Robert A. Greer The environmental and safety performance of gas utilities in the United States, Energy Policy 133 (Oct 2019): 110892.https://doi.org/10.1016/j.enpol.2019.110892J.D. Chandrapal Impact of liberalisation on Indian life insurance industry: A truly multivariate approach, IIMB Management Review 31, no.33 (Sep 2019): 283–297.https://doi.org/10.1016/j.iimb.2019.03.003Victor Zitian Chen, Aldo Musacchio, Sali Li A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs, Journal of Management 45, no.77 (Mar 2018): 2751–2778.https://doi.org/10.1177/0149206318764293Christopher D. Gore, Jennifer N. Brass, Elizabeth Baldwin, Lauren M. MacLean Political autonomy and resistance in electricity sector liberalization in Africa, World Development 120 (Aug 2019): 193–209.https://doi.org/10.1016/j.worlddev.2018.03.003Eva Liljeblom, Benjamin Maury, Alexander Hörhammer Complex state ownership, competition, and firm performance – Russian evidence, International Journal of Emerging Markets 15, no.22 (Jul 2019): 189–221.https://doi.org/10.1108/IJOEM-08-2017-0287Tüzün Tolga İNAN Testing Efficiency On Low Cost Carriers: An Application Of Robust Data Envelopment Analysis, Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi (Jul 2019).https://doi.org/10.17494/ogusbd.595113Jie Yang, Lingchuan Song, Zhongdan Xing Credit Default of Local Public Sectors in Chinese Government-Pay PPP Projects: Evidence from Ecological Construction, Advances in Civil Engineering 2019 (Jul 2019): 1–19.https://doi.org/10.1155/2019/2138525Andrei Panibratov, Snejina Michailova The role of state ownership and home government political support in Russian multinationals’ internationalization, International Journal of Emerging Markets 14, no.33 (Jul 2019): 436–450.https://doi.org/10.1108/IJOEM-10-2017-0380Akihiro Omura, Neda Todorova The quantile dependence of commodity futures markets on news sentiment, Journal of Futures Markets 39, no.77 (Apr 2019): 818–837.https://doi.org/10.1002/fut.22010Sergio Mariotti, Riccardo Marzano Varieties of capitalism and the internationalization of state-owned enterprises, Journal of International Business Studies 50, no.55 (Jan 2019): 669–691.https://doi.org/10.1057/s41267-018-00208-2Paolo Castelnovo, Chiara F. Del Bo, Massimo Florio Quality of institutions and productivity of State-Invested Enterprises: International evidence from major telecom companies, European Journal of Political Economy 58 (Jun 2019): 102–117.https://doi.org/10.1016/j.ejpoleco.2018.10.005Daniel Albalate, Germà Bel, Albert Gragera Politics, risk, and white elephants in infrastructure PPPs, Utilities Policy 58 (Jun 2019): 158–165.https://doi.org/10.1016/j.jup.2019.05.001Yan Vaslavskiy, Irina Vaslavskaya Infrastructure Public–Private Partnership Projects: Budget Consolidation Policy in Russia and Government Expenditures’ Efficiency Increase, (May 2019): 203–232.https://doi.org/10.1108/978-1-78973-265-820191007Victor Zitian Chen Shareholder wealth effects of cultural diversity among blockholders: Evidence from cross‐border acquisitions by U.S.‐listed companies, Corporate Governance: An International Review 27, no.33 (Apr 2019): 186–209.https://doi.org/10.1111/corg.12273Loris Landriani, Luigi Lepore, Gabriella D'Amore, Stefano Pozzoli, Federico Alvino Decorporatization of a municipal water utility: A case study from Italy, Utilities Policy 57 (Apr 2019): 43–47.https://doi.org/10.1016/j.jup.2019.01.005Sangeetha Gunasekar, Jayati Sarkar Does Autonomy Matter in State Owned Enterprises? Evidence from Performance Contracts in India, Economics of Transition and Institutional Change 88 (Mar 2019).https://doi.org/10.1111/ecot.12220Hafsa Ahmed, David A. Cohen Stakeholder attributes and attitudes during privatisation: a New Zealand case study, International Journal of Public Sector Management 32, no.22 (Mar 2019): 157–174.https://doi.org/10.1108/IJPSM-09-2017-0258Roland Zullo Explaining Privatization Failure: The Vice of Sweet Carrots and Hard Sticks, Review of Radical Political Economics 51, no.11 (Sep 2018): 111–128.https://doi.org/10.1177/0486613417718527Henning Kroll, Kou Kou Innovation output and state ownership: empirical evidence from China’s listed firms, Industry and Innovation 26, no.22 (Mar 2018): 176–198.https://doi.org/10.1080/13662716.2018.1456323Mario Benassi, Matteo Landoni State-owned enterprises as knowledge-explorer agents, Industry and Innovation 26, no.22 (Oct 2018): 218–241.https://doi.org/10.1080/13662716.2018.1529554Jiatao Li, Peixin Li, Baolian Wang The liability of opaqueness: State ownership and the likelihood of deal completion in international acquisitions by Chinese firms, Strategic Management Journal 40, no.22 (Dec 2018): 303–327.https://doi.org/10.1002/smj.2985Yuliya Guseva Russia: Russian Capital Markets and Shareholder Litigation: Quo Vadis?, (Jan 2019): 657–691.https://doi.org/10.1017/9781316258118.019Tran Minh Tam, Le Quang Minh, Le Thi Khuyen, Ngo Phu Thanh Earnings Quality: Does State Ownership Matter? Evidence from Vietnam, (Nov 2018): 477–496.https://doi.org/10.1007/978-3-030-04200-4_35Alessandro Baroncelli, Matteo Landoni Chinese State-Owned Enterprises in the Market for Corporate Control. Evidences and Rationalities of Acquisition in Western Countries, (Dec 2018): 17–36.https://doi.org/10.1007/978-3-030-04251-6_2Saul Estrin, Zhixiang Liang, Daniel Shapiro, Michael Carney State capitalism, economic systems and the performance of state owned firms, Acta Oeconomica 69, no.s1s1 (Jan 2019): 175–193.https://doi.org/10.1556/032.2019.69.S1.11Mohamed El Fodil Ihaddaden Impact of Political Uncertainty on Banking Performance: Investigating the Jasmin Revolution Effect on the Tunisian Banking System, SSRN Electronic Journal (Jan 2019).https://doi.org/10.2139/ssrn.3329333Alexander Radygin, Revold Entov, Alexander E. Abramov, Maria Chernova, Georgy Malginov Приватизация 30 лет спустя: масштабы и эффективность государственного сектора (Privatization 30 Years Later: Scope and Efficiency of the Public Sector), SSRN Electronic Journal (Jan 2019).https://doi.org/10.2139/ssrn.3337782Ahmed B. A. Boghdady Accrual and real earnings management in both state-owned and privately-owned Egyptian companies, Corporate Ownership and Control 17, no.11 (Jan 2019): 8–13.https://doi.org/10.22495/cocv17i1art1 References, (Nov 2018): 219–233.https://doi.org/10.1108/978-1-78769-793-520181019Fredrik N.G. Andersson, Sonja Opper, Usman Khalid Are capitalists green? Firm ownership and provincial CO emissions in China, Energy Policy 123 (Dec 2018): 349–359.https://doi.org/10.1016/j.enpol.2018.08.045Daniel Schwab, Eric Werker Are economic rents good for development? Evidence from the manufacturing sector, World Development 112 (Dec 2018): 33–45.https://doi.org/10.1016/j.worlddev.2018.07.014Kean Fan Lim Strategic coupling, state capitalism, and the shifting dynamics of global production networks, Geography Compass 12, no.1111 (Sep 2018): e12406.https://doi.org/10.1111/gec3.12406Fuad Rakhman Can partially privatized SOEs outperform fully private firms? Evidence from Indonesia, Research in International Business and Finance 45 (Oct 2018): 285–292.https://doi.org/10.1016/j.ribaf.2017.07.160Marthe Liss Holum How does competitive tendering and contracting affect satisfaction with municipal health and care services?, International Review of Administrative Sciences 84, no.33 (Jun 2016): 520–538.https://doi.org/10.1177/0020852316630391Tanja Kuzman, Sotirios K. Bellos, Katarina Đulić Determinants of Innovation-based Sustainability in Transition and Developing Economies, Economic Themes 56, no.33 (Sep 2019): 413–438.https://doi.org/10.2478/ethemes-2018-0024A. D. Radygin, R. M. Entov, A. E. Abramov, I. V. Aksenov, G. N. Malginov, M. I. Chernova Large-scale reluctant privatization: Contradictions and challenges under sanctions, Voprosy Ekonomiki , no.88 (Aug 2018): 5–38.https://doi.org/10.32609/0042-8736-2018-8-5-38Christian Lohmann, Peter G. Rötzel The Outcome of Renegotiations between Institutionalized Public–Private Partnerships and Their Public Clients: Data on the Public–Private Partnerships of the German Federal Armed Forces, International Journal of Public Administration 41, no.99 (Mar 2017): 735–745.https://doi.org/10.1080/01900692.2017.1298128Yoon Hee Kim, Tobias Schoenherr The Effects of Supply Chain Integration on the Cost Efficiency of Contract Manufacturing, Journal of Supply Chain Management 54, no.33 (May 2018): 42–64.https://doi.org/10.1111/jscm.12168Junmin Wang, Yanlong Zhang, Doug Guthrie Economic Openness and Institutional Embeddedness: Global Capital and Firm Performance in China's Stock Market*, Social Science Quarterly 99, no.22 (May 2017): 807–828.https://doi.org/10.1111/ssqu.12413Kenny Ka Yin Chan, Li Chen, Norman Wong New Zealand State-owned enterprises: is state-ownership detrimental to firm performance?, New Zealand Economic Papers 52, no.22 (Jan 2017): 170–184.https://doi.org/10.1080/00779954.2016.1272626Hao Wu, Bo Qin The transformation of brownfield and its holding firm in transitional economy: a case study in Beijing, China, Pacific Rim Property Research Journal 24, no.22 (Aug 2018): 199–212.https://doi.org/10.1080/14445921.2018.1502651Tanja Kuzman, Oleksandr Talavera, Sotirios K. Bellos Politically induced board turnover, ownership arrangements, and performance of SOEs, Corporate Governance: An International Review 26, no.33 (Mar 2018): 160–179.https://doi.org/10.1111/corg.12238Luis Alfonso Dau Contextualizing international learning: The moderating effects of mode of entry & subsidiary networks on the relationship between reforms & profitability, Journal of World Business 53, no.33 (Apr 2018): 403–414.https://doi.org/10.1016/j.jwb.2016.10.005Previtali Pietro, Zatti Andrea, Scarozza Danila Public owned enterprises in Italy: A hybrid nature for a hybrid regime of over -compliance, African Journal of Business Management 12, no.66 (Mar 2018): 140–153.https://doi.org/10.5897/AJBM2017.8472Divya Verma Gakhar, Abhijit Phukon From welfare to wealth creation, International Journal of Public Sector Management 31, no.22 (Mar 2018): 265–286.https://doi.org/10.1108/IJPSM-03-2017-0096Augusto Carvalho, Bernardo Guimaraes State-controlled companies and political risk: Evidence from the 2014 Brazilian election, Journal of Public Economics 159 (Mar 2018): 66–78.https://doi.org/10.1016/j.jpubeco.2018.02.002Saul Estrin, Adeline Pelletier Privatization in Developing Countries: What Are the Lessons of Recent Experience?, The World Bank Research Observer 33, no.11 (Mar 2018): 65–102.https://doi.org/10.1093/wbro/lkx007Wen-Hsin Huang, Mei-Juh Huang, Mei-Hua Huang The Impact of Government Shareholding on Firm Performance: A Corporate Governance Perspective, (Jul 2017): 741–750.https://doi.org/10.1007/978-3-319-61542-4_75Alberto Asquer Regulatory Policies, Strategies, and Tools, (Oct 2017): 35–56.https://doi.org/10.1007/978-3-319-67735-4_3Sergio G. Lazzarini, Aldo Musacchio , Corporate Governance: An International Review 26, no.44 ( 2018): 255.https://doi.org/10.1111/corg.12239Illoong Kwon, Sangin Park Public-Private Mixed Delivery and Information Effects, Economica 85, no.337337 (Jul 2016): 75–91.https://doi.org/10.1111/ecca.12203Junmin Wang , Perspectives on Global Development and Technology 17, no.44 ( 2018): 373.https://doi.org/10.1163/15691497-12341485Bernardo Bortolotti, Veljko Fotak, Brian Wolfe Innovation and State Owned Enterprises, SSRN Electronic Journal (Jan 2018).https://doi.org/10.2139/ssrn.3150280Gabriele Lattanzio, William L. Megginson Can Restructuring Gains Be