The Impact Of Government Intervention On The State-owned Enterprises' Innovation
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How institutional environment impact enterprises’ innovation is always a hot question for the scholars. Combined with China's specific institutional environment, the paper analyses how government intervention impact the state-owned enterprise's innovation. The results show that:(1) The government intervention has a significant negative impact on the state-owned enterprises’ innovation,(2)The government’s pursuit of GDP increasing and employment rate is negative to the SOEs’ innovation. The results indicate that policy burden impact the enthusiasm of SOEs’ innovation, which providing support for “Grabbing-hand model” theory.Keywords:
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Economic interventionism
Economic interventionism
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How institutional environment impact enterprises’ innovation is always a hot question for the scholars. Combined with China's specific institutional environment, the paper analyses how government intervention impact the state-owned enterprise's innovation. The results show that:(1) The government intervention has a significant negative impact on the state-owned enterprises’ innovation,(2)The government’s pursuit of GDP increasing and employment rate is negative to the SOEs’ innovation. The results indicate that policy burden impact the enthusiasm of SOEs’ innovation, which providing support for “Grabbing-hand model” theory.
State owned
Economic interventionism
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This paper employs cash flow and accounting based measures to examine performance differences between privately-owned and state-owned banks in sixteen Far East countries from 1989 through 2004, a period including the 1997 Asian financial crisis. We find that state-owned banks operated less profitably, held less core capital, and had greater credit risk than privately-owned banks prior to 2001, and the performance differences are more significant in those countries with greater government involvement and political corruption in the banking system. In addition, from 1997 to 2000, the 4-year period after the beginning of the Asian financial crisis, the deterioration in the cash flow returns, core capital and credit quality of state-owned banks was significantly greater than that of privately-owned banks, and the contrast between the two types of banks during this period is especially sharp for the countries that were hardest hit by the Asian crisis. We also find that state-owned banks finance the government to a greater degree than do privately-owned banks in countries where the government is involved heavily in the banking system. However, state-owned banks closed the gap with privately-owned banks on cash flow returns, core capital, and nonperforming loans in the post-crisis period of 2001-2004. Taken together, our findings can best be explained by Shleifer and Vishny's (1997) corporate governance theory on government ownership of banks and Kane's (2000) life-cycle model of a regulation-induced banking crisis.
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Firm, market and government are substitutive for each other at the micro level,and are complementary for each other at the micro level. This paper distinguishes between the principle of importance and necessity when we define the line between government intervention and the spontaneous operation of firm and market. The author argues that, when comparing the degree of the intervention between the East Asia and the Western countries, we generally deduce that the government intervention in the East are more common than those in the Western countries. But according to some data index, the East Asian government intervention seems less than the Western. The author gives some explanation for the paradox and thinks that it is owing to the different means of government intervention that the paradox emerges.
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In the developing process of high-tech industry,its characteristics would cause market failures,which need government's support and intervention.We can draw a conclusion that a moderate support by government will create a triple win situation-which of high-tech enterprises(industry),traditional enterprises(industry) and the government can be achieved by establishing a dynamic game model between the government and enterprises(industry).Actually,some policies and measures have put forward.
Economic interventionism
High tech
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This study investigates the relationship between corporate governance mechanisms and earnings manipulation by overproduction in state owned compared with privately owned companies.Abnormal production cost (APROD) is used to measure overproduction practices.An empirical model is developed in which the abnormal production cost represents the dependent variable.The APROD model is tested using a sample of manufacturing companies containing state-owned and privately-owned companies over the period from 2010 to 2017, with 743 firm-year observations.The results show that the board size, board independence, number of audit committee meetings, and financial expertise for audit committee members appear effective mechanisms for curbing manipulation using production costs in state-owned manufacturing companies.For privately-owned manufacturing companies, the results reveal that only board independence and number of audit committee meetings appear effective mechanisms in constraining manipulation using production costs.
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This paper reports findings from a study comparing the performance of Indian State Owned Enterprises (SOEs) and private firms. While the privately held firms performed better in terms of commercial profitability, the two groups did not differ in managerial efficiency. The SOEs were markedly better in accomplishing public interest objectives.
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Firstly,this paper reviews the background of Hong Kong government' intervention in the private housing market as well as the intervention tools implemented.Then,based on the summarized framework of government intervention under different market condition,we analyze the effectiveness of those policy measures.The results shows that government intervention help to mitigate the market vibration to some extend in Hong Kong' private housing market,but there still exists some disadvantages like the sluggishness in adjusting the intervention objective,the limitation of using monetary policy and the overlook of demand side intervention.The Government intervention experiences from Hong Kong will help Mainland China to improve the effectiveness of its own intervention in the housing market.
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For a long time our country has maintained a large government scale,and there have always existed the government malposition,offside and vacancy,affecting greatly the economic society.With the advancement of urbanization,the government should also change its functions correspondingly.Generally speaking,the government should gradually decrease its intervention in the market behaviour.
Economic interventionism
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