1 |
Chien-Chung, L. (2012). The Chinese independent director mechanism under changing macro political-economic setting: A review of its first decade and two possible models for the future. American University Business Law Review, 1(2), 336.
|
2 |
Dang, H. N., Nguyen, T. T. C., & Tran, D. M. (2020). The Impact of Earnings Quality on Firm Value: The Case of Vietnam. Journal of Asian Finance, Economics and Business, 7(3), 63-72. https://doi.org/10.13106/jafeb.2020.vol7.no3.63
DOI
|
3 |
Denis, D. K. (2001). Twenty five years of corporate governance research ... and counting. Review of Financial Economics, 10(3), 191-212. doi:10.1016/S1058-3300(01)00037-4
DOI
|
4 |
Dess, G. G., Ireland, R. D., & Hitt, M. A. (1990). Industry effects and strategic management research. Journal of Management, 16(1), 7-27. doi:10.1177/014920639001600102
DOI
|
5 |
Elyasiani, E., & Jia, J. (2010). Distribution of institutional ownership and corporate firm performance. Journal of Banking and Finance, 34(3), 606-620. doi:10.1016/j.jbankfin.2009.08.018
DOI
|
6 |
Gedajlovic, E., & Shapiro, D. M. (2002). Ownership structure and firm profitability in Japan. The Academy of Management Journal, 45(3), 565-575. doi:10.2307/3069381
DOI
|
7 |
Haider, Z. A., Liu, M., Wang, Y., & Zhang, Y. (2018). Government ownership, financial constraint, corruption, and corporate performance: International evidence. Journal of International Financial Markets, Institutions & Money, 53, 76-93. doi:10.1016/j.intfin.2017.09.012
DOI
|
8 |
He, T., Li, W., & Tang, G. (2012). Dividends Behavior in State-Versus Family-Controlled Firms: Evidence from Hong Kong. Journal of Business Ethics, 110(1), 97-112. doi:10.1007/s10551-011-1150-0
DOI
|
9 |
McConnell, J. J., & Servaes, H. (1990). Additional evidence on equity ownership and corporate value. Journal of Financial Economics, 27(2), 595-612. doi:10.1016/0304-405X(90)90069-C
DOI
|
10 |
McKnight, P. J., & Weir, C. (2009). Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis. Quarterly Review of Economics and Finance, 49(2), 139-158. doi:10.1016/j.qref.2007.09.008
DOI
|
11 |
Megginson, W. L. (2017). Privatization, state capitalism, and state ownership of business in the 21st century. Foundations and Trends in Finance, 11(1-2), 1-153.
DOI
|
12 |
Megginson, W. L., Nash, R. C., & Randenborgh, M. (1994). The financial and operating performance of newly privatized firms: An international empirical analysis. Journal of Finance, 49(2), 403-452. doi:10.1111/j.1540-6261.1994.tb05147.x
DOI
|
13 |
Megginson, W. L., & Netter, J. M. (2001). From state to market: A survey of empirical studies on privatization. Journal of Economic Literature, 39(2), 321-389. doi:10.1257/jel.39.2.321
DOI
|
14 |
Modigliani, F., & Miller, M. H. (1963). Corporate income taxes and the cost of capital: A correction. The American Economic Review, 53(3), 433-443.
|
15 |
Nem Singh, J., & Chen, G. C. (2018). State-owned enterprises and the political economy of state-state relations in the developing world. Third World Quarterly, 39(6), 1077-1097. doi:10.1080/01436597.2017.1333888
DOI
|
16 |
Ngo, M. T., Nonneman, W., & Jorissen, A. (2014). Government ownership and firm performance: The case of Vietnam. International Journal of Economics and Financial Issues, 4(3), 628-650.
|
17 |
Ngo, M. T., Nonneman, W., & Jorissen, A. (2015). Privatization of Vietnamese firms and its effects on firm performance. Asian Economic and Financial Review, 5(2), 202-217. doi:10.18488/journal.aefr/2015.5.2/102.2.202.217
DOI
|
18 |
Bo, H., Li, T., & Toolsema, L. A. (2009). Corporate social responsibility investment and social objectives: An examination on social welfare investment of Chinese state-owned enterprises. Scottish Journal of Political Economy, 56(3), 267-295. doi:10.1111/j.1467-9485.2009.00484.x
DOI
|
19 |
Beuselinck, C., Cao, L., Deloof, M., & Xia, X. (2017). The value of government ownership during the global financial crisis. Journal of Corporate Finance, 42, 481-493. doi:10.1016/j.jcorpfin.2015.05.002
DOI
|
20 |
Bhagat, S., & Bolton, B. (2008). Corporate governance and firm performance. Journal of Corporate Finance, 14(3), 257-273. https://doi.org/10.1016/j.jcorpfin.2008.03.006
DOI
|
21 |
Borisova, G., Fotak, V., Holland, K., & Megginson, W. L. (2015). Government ownership and the cost of debt: Evidence from government investments in publicly traded firms. Journal of Financial Economics, 118(1), 168-191. doi:10.1016/j.jfineco.2015.06.011
DOI
|
22 |
Bortolotti, B., & Faccio, M. (2009). Government Control of Privatized Firms. The Review of Financial Studies, 22(8), 2907-2939. doi:10.1093/rfs/hhn077
DOI
|
23 |
Wong, S. (2004). Improving Corporate Governance in SOEs: An Integrated Approach. Corporate Governance International, 7(2). Available at SSRN: https://ssrn.com/abstract=897121
|
24 |
Wang, J., Guthrie, D., & Xiao, Z. (2012). The rise of SASAC: Asset management, ownership concentration, and firm performance in China's capital markets. Management and Organization Review, 8(2), 253-281. doi:10.1111/j.1740-8784.2011.00236.x
DOI
|
25 |
Boubakri, N., Cosset, J. C., & Guedhami, O. (2005). Postprivatization corporate governance: The role of ownership structure and investor protection. Journal of Financial Economics, 76(2), 369-399. doi:10.1016/j.jfineco.2004.05.003
DOI
|
26 |
Boubakri, N., El Ghoul, S., Guedhami, O., & Megginson, W. L. (2018). The market value of government ownership. Journal of Corporate Finance, 50, 44-65. doi:10.1016/j.jcorpfin.2017.12.026
DOI
|
27 |
Boycko, M., Shleifer, A., & Vishny, R. W. (1996). A theory of privatisation. The Economic Journal, 106(435), 309-319. doi:10.2307/2235248
DOI
|
28 |
Chen, C. C. (2013). Corporate Governance of State-Owned Enterprises: An Empirical Survey of the Model of Temasek Holdings in Singapore. Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal.
|
29 |
Wang, L., & Judge, W. (2012). Managerial ownership and the role of privatization in transition economies: The case of China. Asia Pacific Journal of Management, 29(2), 479-498. doi:10.1007/s10490-010-9205-9
DOI
|
30 |
Wei, Z., Xie, F., & Zhang, S. (2005). Ownership structure and firm value in China's privatized firms: 1991-2001. Journal of Financial and Quantitative Analysis, 40(1), 87-108. doi:10.1017/S0022109000001757
DOI
|
31 |
Wu, W., Wu, C., & Rui, O. M. (2012). Ownership and the value of political connections: Evidence from China. European Financial Management, 18(4), 695-729. doi:10.1111/j.1468-036X.2010.00547.x
DOI
|
32 |
Yin Sam, C. (2010). Globalizing Partially Privatized Firms in Singapore: The Role of Government as a Regulator and a Shareholder. Journal of Asian and African Studies, 45(3), 258-273. doi:10.1177/0021909610364778
DOI
|
33 |
Yu, M. (2013). State ownership and firm performance: Empirical evidence from Chinese listed companies. China Journal of Accounting Research, 6(2), 75-87. doi:10.1016/j.cjar.2013.03.003
DOI
|
34 |
Zengji, S., Abraham, N., & Jun, Y. (2016). Institutional environment, political connections of partial state ownership, and performance: An empirical study on listed private sector firms in China. International Journal of Social Economics, 43(8), 856-870. doi:10.1108/IJSE-10-2014-0210
DOI
|
35 |
Le, T., & Buck, T. (2011). State ownership and listed firm performance: A universally negative governance relationship? Journal of Management & Governance, 15(2), 227-248. doi:10.1007/s10997-009-9098-5
DOI
|
36 |
Le, T. P. V., & Phan, T. B. N. (2017). Capital structure and firm performance: Empirical evidence from a small transition country. Research in International Business and Finance, 42, 710-726. doi:10.1016/j.ribaf.2017.07.012
DOI
|
37 |
Li, L., McMurray, A., Sy, M., & Xue, J. (2018). Corporate ownership, efficiency and performance under state capitalism: Evidence from China. Journal of Policy Modeling, 40(4), 747-766. doi:10.1016/j.jpolmod.2018.03.002
DOI
|
38 |
Li, S., & Xia, J. (2008). The Roles and Performance of State Firms and Non-State Firms in China's Economic Transition. World Development, 36(1), 39-54. doi:10.1016/j.worlddev.2007.01.008
DOI
|
39 |
Liao, J., & Young, M. (2012). The impact of residual government ownership in privatized firms: New evidence from China. Emerging Markets Review, 13(3), 338-351. doi:10.1016/j.ememar.2012.02.004
DOI
|
40 |
Lin, H.-C. M., & Bo, H. (2012). State-ownership and financial constraints on investment of Chinese-listed firms: New evidence. The European Journal of Finance, 18(6), 497-513. doi:10.1080/1351847X.2011.611523
DOI
|
41 |
Ang, J. S., & Ding, D. K. (2006). Government ownership and the performance of government-linked companies: The case of Singapore. Journal of Multinational Financial Management, 16(1), 64. doi:10.1016/j.mulfin.2005.04.010
DOI
|
42 |
Abdallah, A. A. N., & Ismail, A. K. (2017). Corporate governance practices, ownership structure, and corporate performance in the GCC countries. Journal of International Financial Markets, Institutions & Money, 46, 98-115. doi:10.1016/j.intfin.2016.08.004
DOI
|
43 |
Aguilera, R. V., & Jackson, G. (2010). Comparative and International Corporate Governance. The Academy of Management Annals, 4(1), 485-556. doi:10.1080/19416520.2010.495525
DOI
|
44 |
Ang, J. S., Cole, R. A., & Lin, J. W. (2000). Agency costs and ownership structure. Journal of Finance, 55(1), 81-106. doi:10.1111/0022-1082.00201
DOI
|
45 |
Baron, R. M., & Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51(6), 1173-1182. doi:10.1037/0022-3514.51.6.1173
DOI
|
46 |
Bennedsen, M. (2000). Political ownership. Journal of Public Economics, 76(3), 559-581. doi:10.1016/S0047-2727(99)00096-1
DOI
|
47 |
Liu, N., Wang, L., Zhang, M., & Zhang, W. (2012). Government intervention and executive compensation contracts of state-owned enterprises: Empirical evidence from China. Journal of Chinese Economic and Business Studies, 10(4), 391-411. doi:10.1080/14765284.2012.724983
DOI
|
48 |
Loc, T. D., Lanjouw, G., & Lensink, R. (2006). The impact of privatization on firm performance in a transition economy. Economics of Transition, 14(2), 349-389. doi:10.1111/j.1468-0351.2006.00251.x
DOI
|
49 |
Loch, M., Marcon, R., Pruner Da Silva, A. L., & Xavier, W. G. (2018). Government's impact on the financial performance of electric service providers as both regulator and shareholder. Utilities Policy, 55, 142-150. doi:10.1016/j.jup.2018.09.007
DOI
|
50 |
Ben-Nasr, H., Boubakri, N., & Cosset, J. C. (2012). The political determinants of the cost of equity: Evidence from newly privatized firms. Journal of Accounting Research, 50(3), 605-646. doi:10.1111/j.1475-679X.2011.00435.x
DOI
|
51 |
Shleifer, A., & Vishny, R. (1986). Large shareholders and corporate control. The Journal of Political Economy, 94(3), 461. doi:10.1086/261385
DOI
|
52 |
Sam, C. Y. (2007). Partial privatization, corporate governance, and the role of state-owned holding companies. Journal of the Asia Pacific Economy, 13(1), 63-88. doi:10.1080/13547860701731895
DOI
|
53 |
Sam, C. Y. (2013). Partial privatisation and the role of state owned holding companies in China. Journal of Management & Governance, 17(3), 767-789. doi:10.1007/s10997-011-9190-5
DOI
|
54 |
Sheshinski, E., & Lopez-Calva, L. (2003). Privatization and its benefits: Theory and evidence. CESifo Economic Studies, 49(3), 429-460. doi:10.1093/cesifo/49.3.429
DOI
|
55 |
Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance (Vol. 52, pp. 737-783). Oxford, UK: Oxford University Press.
|
56 |
Singh, M., & Davidson III, W. N. (2003). Agency costs, ownership structure and corporate governance mechanisms. Journal of Banking and Finance, 27(5), 793-816. doi:10.1016/S0378-4266(01)00260-6
DOI
|
57 |
Tirole, J. (1994). The internal organization of government. Oxford Economic Papers, 46(1), 1-29. doi:10.1093/oxfordjournals.oep.a042114
DOI
|
58 |
Souza, J., Megginson, W., & Nash, R. (2005). Effect of institutional and firm-specific characteristics on post-privatization performance: Evidence from developed countries. Journal of Corporate Finance, 11(5), 747-766. doi:10.1016/j.jcorpfin.2004.12.001
DOI
|
59 |
Souza, J., & Megginson, W. L. (1999). The financial and operating performance of privatized firms during the 1990s. Journal of Finance, 54(4), 1397-1438. doi:10.1111/0022-1082.00150
DOI
|
60 |
Tian, L., & Estrin, S. (2008). Retained state shareholding in Chinese PLCs: Does government ownership always reduce corporate value? Journal of Comparative Economics, 36(1), 74-89. doi:10.1016/j.jce.2007.10.003
DOI
|
61 |
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
DOI
|
62 |
Hoang, L. T., Nguyen, C. C., & Hu, B. (2017). Ownership structure and firm performance improvement: Does it matter in the Vietnamese stock market? Economic Papers: A Journal of Applied Economics and Policy, 36(4), 416-428. doi:10.1111/1759-3441.12185
DOI
|
63 |
Holland, K. (2019). Government investment in publicly traded firms. Journal of Corporate Finance, 56, 319-342. doi:10.1016/j.jcorpfin.2019.01.004
DOI
|
64 |
Hu, Y., & Izumida, S. (2009). The Relationship between Ownership and Performance: A Review of Theory and Evidence. International Business Research, 1(4). doi:10.5539/ibr.v1n4p72
|
65 |
Kuznetsov, P., & Muravev, A. (2001). State Holding Companies as a Mechanism for Managing Enterprises in the State Sector. Problems of Economic Transition, 44(4), 49-69. doi:10.1080/10611991.2001.11049761
|
66 |
Kamal, M. (2010). Corporate governance and state-owned enterprises: A study of Indonesia's code of corporate governance. Journal of International Commercial Law and Technology, 5(4), 224.
|
67 |
Kim, H., & Chung, K. H. (2018). Can state-owned holding (SOH) companies improve SOE performance in Asia? Evidence from Singapore, Malaysia and China. Journal of Asian Public Policy, 11(2), 206-225. doi:10.1080/17516234.2018.1450624
DOI
|
68 |
Kraus, A., & Litzenberger, R. H. (1973). A state-preference model of optimal financial leverage. The Journal of Finance, 28(4), 911-922. doi:10.2307/2978343
DOI
|
69 |
Laffont, J., & Tirole, J. (1991). Privatization and incentives. Journal of Law, Economics, & Organization, 7, 84-105.
DOI
|
70 |
Le, M. D., Pieri, F., & Zaninotto, E. (2019). From central planning towards a market economy: The role of ownership and competition in Vietnamese firms' productivity. Journal of Comparative Economics, 47(3), 693-716. https://doi.org/10.1016/j.jce.2019.04.002
DOI
|
71 |
Nurgozhayeva, R. (2017). State ownership in terms of transition: Curse or blessing?. Cornell International Law Journal, 50(1), 76.
|
72 |
Nguyen, D. T., Nguyen, T. P., & Nguyen, J. D. K. (2012). Vietnam's SCIC: A gradualist approach to sovereign wealth funds. Journal of the Asia Pacific Economy, 17(2), 268-283. doi:10.1080/13547860.2012.668065
DOI
|
73 |
Nguyen, M. H., & Vo, Q. T. (2020). Investigating the Association between Residual State Ownership and Privatized Firm Efficiency. Journal of Asian Finance, Economics and Business, 7(5), 225-236.https://doi.org/10.13106/jafeb.2020.vol7.no5.225
DOI
|
74 |
Nguyen, P. A., Nguyen, A. H., Ngo, T. P., & Nguyen, P. V. (2019). The Relationship between Productivity and Firm's Performance: Evidence from Listed Firms in Vietnam Stock Exchange. Journal of Asian Finance, Economics and Business, 6(3), 131-140. https://doi.org/10.13106/jafeb.2019.vol6.no3.131
DOI
|
75 |
Panda, B., & Leepsa, N. M. (2017). Agency theory: Review of Theory and Evidence on Problems and Perspectives. Indian Journal of Corporate Governance, 10(1), 74-95. doi:10.1177/0974686217701467
DOI
|
76 |
Peng, M., Bruton, G., Stan, C., & Huang, Y. (2016). Theories of the (state-owned) firm. Asia Pacific Journal of Management, 33(2), 293-317. doi:10.1007/s10490-016-9462-3
DOI
|
77 |
Porta, R., Lopez-De-Silanes, F., & Shleifer, A. (1999). Corporate Ownership Around the World. Journal of Finance, 54(2), 471-517. doi:10.1111/0022-1082.00115
DOI
|
78 |
Qi, D., Wu, W., & Zhang, H. (2000). Shareholding structure and corporate performance of partially privatized firms: Evidence from listed Chinese companies. Pacific-Basin Finance Journal, 8(5), 587-610. doi:10.1016/S0927-538X(00)00013-5
DOI
|
79 |
Rosenbaum, P. R., & Rubin, D. B. (1983). The central role of the propensity score in observational studies for causal effects. Biometrika, 70(1), 41-55. doi:10.2307/2335942
DOI
|
80 |
Chen, G., Firth, M., & Rui, O. (2006). Have China's enterprise reforms led to improved efficiency and profitability? Emerging Markets Review, 7(1), 82-109. doi:10.1016/j.ememar.2005.05.003
DOI
|