Study on the ownership balance and the efficiency of mixed ownership enterprises from the perspective of heterogeneous shareholders.

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ID: 15604
2018
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Abstract
Based on the database data of Chinese industrial enterprises from 2000 to 2007 and the LP method, this paper measures the total factor productivity of enterprises and investigates the effect of different mixed ownership forms on enterprises' efficiency and the effect of heterogeneous ownership balance on the mixed ownership enterprises' efficiency. The state-owned enterprise and mixed ownership enterprise are identified by the enterprise's paid-up capital. The results show that, on the whole, for the mixed ownership enterprise, the higher the diversification degree of the shareholders is, the higher the efficiency becomes, and in different types of industries, the mixed forms of shareholders have different effects on the efficiency of enterprises. The heterogeneous ownership balance and the enterprise efficiency show nonlinear U-type relationships. Both the higher and lower heterogeneous ownership balance degrees will promote the enterprise's efficiency. However, when the ownership balance degree is in the range of [0.2 0.5], the increase in ownership balance will lead to the decline of enterprise efficiency. Therefore, when introducing non-state-owned capital, state-owned enterprises should take full account of their own characteristics by rationally controlling the shareholding ratio of non-state-owned capital and play the positive role of a mixed ownership structure in corporate governance with appropriate ownership balances.
Reference Key
yin2018studyplos Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Yin, Zhujia;Liu, Lijuan;Wang, Haidong;Wen, Fengming;
Journal PloS one
Year 2018
DOI
10.1371/journal.pone.0194433
URL
http://europepmc.org/articles/PMC5882114?pdf=render
Keywords Keywords not found

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