Share issuing privatizations (SIPs) in China are partial in nature and involve the sale of newly issued shares. Using data on 430 Chinese SIPs during 1994-2002, this paper empirically investigates the firm and stock market characteristics that determine what fraction of shares is sold to the...

This paper reviews the theory and recent empirical studies on privatization, with a special focus on the efforts made in the case of China. Over the last decade, the Chinese government has initiated major privatizations in an attempt to promote more efficiency and improve the financial and...