NDLI: Ownership, competition, corporate governance and performance: Evidence from the Chinese listed companies in utilities sectors

Content Provider	IEEE Xplore Digital Library
Author	Gao Yue
Copyright Year	2011
Description	Author affiliation: Center for Industrial and Business Organization, Dongbei University of Finance and Economics, P.R. China, 116025 (Gao Yue)
Abstract	During the past decades, different types of reform have been introduced in a different order in various public utilities in China. The present combinations of privatization, competition and regulation reforms are varied across these monopoly industries and thus provide an opportunity for comparing the performances of the different kinds of the reforms. Based on a cross-sectional data from Chinese listed companies in 7 utility sectors, this study examined the impact of ownership, competition and corporate governance on performance index in terms of companies and industries. The effect of corporate governance is not observed in this sample. Electricity sectors perform better than other utilities industries but within this subsample production gain is negatively related to private ownership. The production abilities of companies in water, airline and telecommunication sectors are significantly inferior to electricity sectors which also have a significantly lower cost than railway and airline industries. For rail and airline industries, the percentages of private shares are significantly negatively related to cost index. For telecommunication and airline industries, production is positively related to private ownership. These results indicate that ownership reform is critical in the case of competition which suggests the necessity of introducing competition before the reform and that the degree of competition after ownership reform also matters.
Starting Page	637
Ending Page	641
File Size	99418
Page Count	5
File Format	PDF
ISBN	9781457718854
ISSN	21551855
e-ISBN	9781457718885
DOI	10.1109/ICMSE.2011.6070029
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-09-13
Publisher Place	Italy
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Industries utility sectors performance Privatization Electricity ownership Companies Production corporate governance competition Mathematical model
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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