This article investigates the effect of the second step of privatization in China, which is full privatization through controlling rights transfer after share issue partial privatization. It finds that fully privatized firms perform worse than state-controlled enterprises. Expropriation by...

Focusing on employment issues, this paper investigates the impact of government control on state-owned enterprise's (SOE) excess employment, and hence on its performance and the compensation-based incentive mechanism. The results show that the excess employment in SOEs does not result in a...

Many studies show that country effects dominate in determining the stock return cross-sectional variations. After removing three potential distortions (domestic inflation rate, exchange rate and local risk-free interest rate), we find that the common practice of decomposing the nominal return...

China's electricity generation is mainly dependent on fossil fuel. Promoting electricity conservation in different sectors and regions plays a vital role in reducing China's energy-related CO2 emissions and other pollutants. This paper contributes to identify the sectors and economic regions...

This paper proposes a dynamic programming model to explore the optimal stockpiling path for China's strategic petroleum reserve before 2020. The optimal oil acquisition sizes in 2008–2020 under different scenarios are estimated. The effects of oil price, risks and elasticity value on inventory...