Impact of equitization to capital efficiency of State-owned-Enterprises

  • Thi Thu Thuy Ha https://hvnh.edu.vn/tapchi/vi/thang-5-2018/ha-thi-thu-thuy-tac-dong-cua-co-phan-hoa-den-hieu-qua-su-dung-von-cua-doanh-nghiep-co-nguon-goc-nha-nuoc-171.html
Keywords: capital efficiency, equitization, state-owned enterprises, Tobin Q.

Abstract

This paper reviews the state-owned enterprises equitization process in Vietnam, focusing on the period 2001- 2015. Using a novel dataset from GSO, through Tobin’s Q model, this study has shown that equitization has a positive impact on the efficiency of former SOEs who have been privatised and equitized with a minority state shareholding. This research also shows that accelerating the equitization of state-owned enterprises in 2012- 2015 does not result in SOEs less efficiently than firms that State has controlling shareholder. 

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Published
2022-10-27
Issue
No. 192 (2018)
Section
Bài viết