TY - JOUR
T1 - New Zealand State-owned enterprises
T2 - is state-ownership detrimental to firm performance?
AU - Chan, Kenny Ka Yin
AU - Chen, Li
AU - Wong, Norman
N1 - Publisher Copyright:
© 2017 New Zealand Association of Economists Incorporated.
PY - 2018/5/4
Y1 - 2018/5/4
N2 - This study examines the performance of State-owned enterprises by conducting a contemporary examination in the New Zealand environment. Applying both a cross-sectional and time-series approach, we document significant and consistent evidence that state ownership is negatively associated with firm profitability compared to private ownership. We also find evidence suggesting that state ownership is positively associated with asset turnover and labour intensity, but not associated with labour turnover. This implies that SOEs on average experience a higher asset turnover due to excessive labour employment, compared to private firms.
AB - This study examines the performance of State-owned enterprises by conducting a contemporary examination in the New Zealand environment. Applying both a cross-sectional and time-series approach, we document significant and consistent evidence that state ownership is negatively associated with firm profitability compared to private ownership. We also find evidence suggesting that state ownership is positively associated with asset turnover and labour intensity, but not associated with labour turnover. This implies that SOEs on average experience a higher asset turnover due to excessive labour employment, compared to private firms.
KW - operating efficiency
KW - performance
KW - privatisation
KW - profitability
KW - State-owned enterprises
UR - http://www.scopus.com/inward/record.url?scp=85008368503&partnerID=8YFLogxK
U2 - 10.1080/00779954.2016.1272626
DO - 10.1080/00779954.2016.1272626
M3 - Article
AN - SCOPUS:85008368503
SN - 0077-9954
VL - 52
SP - 170
EP - 184
JO - New Zealand Economic Papers
JF - New Zealand Economic Papers
IS - 2
ER -