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The dynamism of partially state-owned enterprises in East Asia

Carney, Richard W.; Child, Travers B.; Liu, Wai-Man; Ngo, Phong


We examine the nature of state blockholding across publicly listed firms in East Asia by assembling a unique dataset spanning 16 years and 9 economies. Our newly compiled data identifies ultimate owners for each firm annually between 1997 and 2012, totaling 2984 firm-year observations. Three findings stand out. First, large changes (>5%) to state blockholdings – both investments and divestments – are quite prevalent. Second, the identity of the largest shareholder frequently changes over time...[Show more]

CollectionsANU Research Publications
Date published: 2021
Type: Journal article
Source: Journal of Corporate Finance
DOI: 10.1016/j.jcorpfin.2021.101951
Access Rights: Open Access


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