Marketization level, government intervention and firm M&As: evidence from the local SOEs in China

被引：15
|
作者：
Yang, Dan [1 ]
Wang, Guojun [2 ]
Lu, Mokai [3 ]
机构：
[1] Beijing Normal Univ, Business Sch, Dept Accounting, Beijing, Peoples R China
[2] Nanjing Univ, Sch Management & Engn, Dept Management & Engn, 22 Hankou Rd, Nanjing 210093, Jiangsu, Peoples R China
[3] Nanjing Univ, Business Sch, Dept Accounting, Nanjing, Jiangsu, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2020年 / 27卷 / 05期
基金：
中国国家自然科学基金;
关键词：
Marketization; M&As; government intervention; local SOEs; China; REFORM;
D O I：
10.1080/13504851.2019.1616059
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The state-owned enterprises (SOEs) in China are commonly criticized due to their decision-making being intervened by the government. In this article, we present that the marketization level restrains the local government's intervention in the local SOEs' mergers and acquisitions (M & As); and the restraining impact is enhanced in the local SOEs, especially on their diversified M&As, when the government possesses stronger power in the firms. The article sheds lights on theories of market segmentation and government intervention in an emerging economy where interventionist governments commonly exist.
引用
收藏
页码：378 / 382
页数：5
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