One theory argues that state ownership of infrastructure is greater in poor countries because the social returns from investment exceed the private returns by a wider margin. Another theory argues that state ownership is greater when legal and political institutions provide weak enforcement of private property rights or weak limits on government excess. I test these theories using cross-country...

The aim of this research is to examine the role of state ownership in corporate governance and firm performance. We employed ordinary least squares and two-stage least squares regressions to analyze the effects of state ownership on firm performance. We go beyond existing research on state ownership by carefully disentangle investment objectives of state-controlled financial institutions. Such ...

This study examines the relationship between ownership structure and firm performance in Chinese companies. We hand collected ownership data on 1178 non-financial companies with a total of 5815 firm-years from annual reports. Through fixed-effect panel model, this study has the following findings. First, there is a positive relationship between firm performance and institutional ownership in Ch...

This Article provides an analytical framework for assessing state regulation regarding lay ownership of healthcare entities. The author suggests there are three categories of state regulation restraining lay ownership, each focused on a particular stakeholder in healthcare transactions: provider, patient, and payor. These regulatory paradigms are analyzed through a discussion of three state app...