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Mixed-ownership reform and strategic choice of Chinese state-owned enterprises
The strategic choice of state-owned enterprises (SOEs) is crucial to the sustainable development of China’s economy. This paper explores the impact of mixed-ownership reform on the strategic choice of SOEs from the shareholder power and the board power. We find that the greater the diversity of mixe...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Public Library of Science
2023
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10121011/ https://www.ncbi.nlm.nih.gov/pubmed/37083868 http://dx.doi.org/10.1371/journal.pone.0284722 |
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author | Yuan, Runsen Li, Chunling Sun, Xiaoran Khaliq, Nosherwan |
author_facet | Yuan, Runsen Li, Chunling Sun, Xiaoran Khaliq, Nosherwan |
author_sort | Yuan, Runsen |
collection | PubMed |
description | The strategic choice of state-owned enterprises (SOEs) is crucial to the sustainable development of China’s economy. This paper explores the impact of mixed-ownership reform on the strategic choice of SOEs from the shareholder power and the board power. We find that the greater the diversity of mixed shareholders, the depth of mixed equity, the control of mixed equity, and the excess control of mixed equity, the higher the degree of mixed-ownership reform, and the more likely it is to promote SOEs to choose the prospector strategy. The mechanism test states that the impact of mixed-ownership reform on enterprise strategy is achieved through the balance effect between non-state-owned shareholders and state-owned controlling shareholders with the same power, and the synergy effect between different powers of non-state shareholders. Further research indicates that the mixed-ownership reform has a stronger driving effect on the prospector strategy in SOEs under strict external supervision, competitive industries, and local areas. This study clarifies the governance logic of non-state-owned shareholders on the strategic positioning of SOEs by dual control rights, and it provides empirical evidence for the formulation of enterprises’ market-oriented strategic objectives. |
format | Online Article Text |
id | pubmed-10121011 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Public Library of Science |
record_format | MEDLINE/PubMed |
spelling | pubmed-101210112023-04-22 Mixed-ownership reform and strategic choice of Chinese state-owned enterprises Yuan, Runsen Li, Chunling Sun, Xiaoran Khaliq, Nosherwan PLoS One Research Article The strategic choice of state-owned enterprises (SOEs) is crucial to the sustainable development of China’s economy. This paper explores the impact of mixed-ownership reform on the strategic choice of SOEs from the shareholder power and the board power. We find that the greater the diversity of mixed shareholders, the depth of mixed equity, the control of mixed equity, and the excess control of mixed equity, the higher the degree of mixed-ownership reform, and the more likely it is to promote SOEs to choose the prospector strategy. The mechanism test states that the impact of mixed-ownership reform on enterprise strategy is achieved through the balance effect between non-state-owned shareholders and state-owned controlling shareholders with the same power, and the synergy effect between different powers of non-state shareholders. Further research indicates that the mixed-ownership reform has a stronger driving effect on the prospector strategy in SOEs under strict external supervision, competitive industries, and local areas. This study clarifies the governance logic of non-state-owned shareholders on the strategic positioning of SOEs by dual control rights, and it provides empirical evidence for the formulation of enterprises’ market-oriented strategic objectives. Public Library of Science 2023-04-21 /pmc/articles/PMC10121011/ /pubmed/37083868 http://dx.doi.org/10.1371/journal.pone.0284722 Text en © 2023 Yuan et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. |
spellingShingle | Research Article Yuan, Runsen Li, Chunling Sun, Xiaoran Khaliq, Nosherwan Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title | Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title_full | Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title_fullStr | Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title_full_unstemmed | Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title_short | Mixed-ownership reform and strategic choice of Chinese state-owned enterprises |
title_sort | mixed-ownership reform and strategic choice of chinese state-owned enterprises |
topic | Research Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10121011/ https://www.ncbi.nlm.nih.gov/pubmed/37083868 http://dx.doi.org/10.1371/journal.pone.0284722 |
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