The serious implications of privatizing state-owned enterprises for politicians, managers, and investors make such decisions highly contingent on firm characteristics and past performance, complicating the identification of the privatization effects. A unique opportunity for this identification arises from a rule of promotion of local politicians based on age requirements in China. This paper finds that Chinese cities whose top officials were older...
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2020/05/28
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Documento de trabalho sobre pesquisa de políticas
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WPS9261
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1
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1
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2020/05/29
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Disclosed
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The Transformative Effects of Privatization in China : A Natural Experiment Based on Politician Career Concern
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Privatization
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