Debt in emerging markets and developing economies is at its highest level in half a century.
In about 9 in 10 emerging markets and developing economies, debt is higher now than it …

This study surveys the literature examining the privatization of state-owned enterprises
(SOEs) We review the history of privatization, the theoretical and empirical evidence on the …

This paper examines whether the development of the financial technology (fintech) industry
affects cost efficiency and the technology adopted for China's banking industry over the …

Banks' credit risk, mostly conveyed by the level of non‐performing loans (NPLs) and
considered as a prominent threat to the banking sector stability, has been widely discussed …

Abstract The Split-Share Structure Reform granted legitimate trading rights to the state-
owned shares of listed state-owned enterprises (SOEs), opening up the gate to China׳ s …

We argue that firms in regulated industries react to macroeconomic and policy risks in
sharply different ways. While they seek to avoid countries with high levels of macroeconomic …

Since 1981, over 100 governments around the world have raised over $1 trillion through the
sale of SOEs to private investors. Privatization programs have transformed the role of the …

We study the share privatization process in China to investigate whether and how the
removal of market frictions is associated with efficiency gains. Prior to the reform, domestic A …

This paper surveys the empirical literature examining bank privatization. We begin by
documenting the extent of, theoretical rationale for, and measured performance of state …

This study examines the impact of ownership structure on Chinese banks' risk-taking
behaviours. We classify the Chinese commercial banks into three categories based on the …