讲座主题（会议名称）

Profits or Politics? Private Control Transfer and Firm   Performance in China

现场负责人

丁浩员

联系电话

65907338

举办时间

11月22日，15：30 — 17：00

举办地点

中欧平台武东路校区119

活动参与人数规模

20

联络人及联系电话

刘益如

65907868

主讲人姓名、单位、职称/职务及简历（外籍人士同时注原文）

战嵩，经济学博士。现任南京审计大学银行与货币研究院院长助理、助理教授，主要研究方向为公司金融、兼并重组、风险承担。

讲座内容摘要（会议议程）

We   investigate the private control transfers for China’s listed SOEs. We find   that economic and political factors both affect these decisions. In   particular, less productive SOEs with poor financial conditions face higher   probability of private control transfers. And, the likelihood of transfers is   especially higher for SOEs in the non-strategically industries or SOEs   affiliated to the municipal governments. Furthermore, private control   transfer could bring substantially improvement for profitability, productivity,   and financial conditions, and the sources of improvements in productivity   mainly comes from labor reduction. We also find transfer with the change of   main business has more positive effects on firm performance in comparisons   with those without any change. Our results suggest that Chinese government   should continue to play a more active role in transferring control of poor   listed SOEs to private entities and have moderate intervention of the   corporate sector.

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