In the 1990s, a new ownership form called ‘joint-stock co-operative’ (gufen hezuozhi) became widely adopted in China’s township and village enterprise sector. The promising dynamics and high adaptive ability of the new ownership form is in contradiction with the conclusions suggested by the existing literature on industrial co-operatives and other types of employee ownership. To show the adapti...

This article aims to investigate whether institutional investors aid in lowering the cost of debt using a sample 311 nonfinancial firms listed on Stock Exchange Thailand (SET) over 2011–2020. All data were obtained from SETSMART database. Controlling for firm characteristics, industry effect, and year we analyze link between ownership pooled ordinary least squares fixed effects models find that...

The performance of Indian railways in the nineteenth century provides a great context to study the effects of state ownership on productivity and other aspects of operations. We rely on a key feature of the institutional background whereby the Government of India purchased a majority ownership stake in private railways at predetermined dates set by contracts negotiated decades before the compan...