Abstract
The purpose of this article is to evaluate the effectiveness of China’s incremental approach to denationalization, share-issue privatization, wherein the government sells shares of state-owned enterprises to the public, while retaining an ownership position in the firm. The effectiveness of this approach to denationalization will be evaluated based on four widely-used measures of firm well-being and productivity--returns on assets, returns on sales, sales per employee, and profits per employee, based on data retrieved from the China Stock Market and Accounting Research (CSMAR) Database and the Private Listed Companies Database.Copyright for articles published in this journal is retained by the authors, with first publication rights granted to Vanderbilt Undergraduate Research Journal under a Creative Commons Attribution-Noncommercial-ShareAlike 4.0 International License (linked here). By virtue of their appearance in this open access journal, articles are available for wide dissemination at no cost to readers, with proper attribution (acknowledgment of the work's authorship and initial publication in this journal), in educational and other non-commercial settings. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process.
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