Chinese State-Owned Enterprises: Why Aren't They Efficient?
2011/06/07
研討會日期 : 2011-06-07
時間 : 00:00
主講人 : Professor David D. Selover
地點 : Conference Room C103
演講者簡介 : David D. Selover got his Ph.D. in Economics from University of California at San Diego in 1991. He is currently serving as Associate Professor of Department of Economics at Old Dominion University. His research field is in international economic interdependence and business cycle transmission, especially in the Pacific Basin.
演講摘要 : Using a panel data set of 200,000+ Chinese firms constructed by merging the Chinese census of manufacturing firms for 2000 – 2005, we compare the performance of Chinese state-owned enterprises (SOEs) and private firms in terms of rates of return, productivity, growth, costs, and investment. Using panel regressions, we find that Chinese industrial state-owned enterprises are indeed less efficient than privately held firms and pay less attention to costs, inventories, accounts receivables, investment, employee welfare, financing, and administration, and this adversely affects their performance. The findings are consistent with the soft-budget constraint hypothesis, but are not conclusive.
