Incentive Contracting Versus Ownership Reforms

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Incentive Contracting Versus Ownership Reforms by : Chun Chang

Download or read book Incentive Contracting Versus Ownership Reforms written by Chun Chang and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a data set that traces the ten-year history of 80 Chinese rural enterprises, known as township and village enterprises, we study the implications of introducing managerial incentives and better-defined ownership for a firm's financial performance. During this period, these mostly community-owned, local-government-controlled socialist collective firms first introduced managerial incentive contracts and then more clearly defined income and control rights. Managerial incentives have a positive but statistically insignificant effect on these firms' performance measured by the return on assets or return on equity. Performance is significantly better under ownership forms with better-defined property rights than under community ownership, even when the latter is supplemented with managerial incentive contracts.

INCENTIVE CONTRACTING VERSUS OWNERSHIP REFORMS: EVIDENCE FROM CHINA'S TOWNSHIP AND VILLAGE ENTERPRISES

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Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis INCENTIVE CONTRACTING VERSUS OWNERSHIP REFORMS: EVIDENCE FROM CHINA'S TOWNSHIP AND VILLAGE ENTERPRISES by : CHUN CHANG, BRIAN MCCALL, AND YIJANG WANG

Download or read book INCENTIVE CONTRACTING VERSUS OWNERSHIP REFORMS: EVIDENCE FROM CHINA'S TOWNSHIP AND VILLAGE ENTERPRISES written by CHUN CHANG, BRIAN MCCALL, AND YIJANG WANG and published by . This book was released on 2000 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Incentive Contracting Versus Ownership Reforms

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Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (248 download)

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Book Synopsis Incentive Contracting Versus Ownership Reforms by : Chang, Chun

Download or read book Incentive Contracting Versus Ownership Reforms written by Chang, Chun and published by . This book was released on 2000 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Incentives in Government Contracting

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Publisher : Heritage
ISBN 13 : 9781487581404
Total Pages : 182 pages
Book Rating : 4.5/5 (814 download)

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Book Synopsis Incentives in Government Contracting by : R. Preston Mcafee

Download or read book Incentives in Government Contracting written by R. Preston Mcafee and published by Heritage. This book was released on 1988-12 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Could the existing level of government services by provided at a lower cost? This study presents a convincing argument for incentive contracts as a means to this end. In a typical market economy, payments from the government to firms account for about one-half of government spending (excluding transfer payments). By changing the way in which a government pays the firms from which it procures goods and services, it would be possible to maintain the existing array of government programs at a lower price. The major finding of this study is that governments could significantly reduce their expenditures by making extensive use of incentive contracts where they currently use either fixed-price contracts or cost-plus contracts. An incentive contract shares cost overruns and cost underruns between the government and the contractor according to a predetermined ratio. An incentive contract stimulates competition among the firms bidding for the contract and shares the project's risk between the government and the selected firm, while giving the contractor incentives to keep incurred costs low. In addition to advocating the use of incentive contracts, the study analyses the consequences of preferential treatment for domestic content over foreign content in government procurement, discusses the choice for a government agency between producing a commodity or service in-house and contracting for its provision with a private firm, and examines the experience with contracting of both the Ontario government and the United States Department of Defense in order to draw lessons for government contracting in general.

An Economic Analysis of the Rise and Decline of Chinese Township and Village Enterprises

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Publisher : Springer
ISBN 13 : 3319597701
Total Pages : 229 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis An Economic Analysis of the Rise and Decline of Chinese Township and Village Enterprises by : Cheng Jin

Download or read book An Economic Analysis of the Rise and Decline of Chinese Township and Village Enterprises written by Cheng Jin and published by Springer. This book was released on 2017-08-11 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a historical economic analysis of two key issues relating to township and village enterprise (TVE) development in China. Firstly, the nature of the evolving relationship between TVEs and local government; in particular how TVE entrepreneurs have used institutionalized power to secure the political influence needed to defend their financial independence. Secondly, the relationship between TVEs and state-owned enterprises (SOEs), and the role of SOEs in China’s economic transition. This study highlights the importance of the role of SOEs in the “dual-track pricing system” and its impact on other parts of the economy. Township and village enterprises were key to China's success in the late twentieth century, but have more or less disappeared as an entity over the past decade or so. By measuring the structural difference of the SOE sector before and after 1998–2003 SOE reform, Jin explains their fast catch-up in productivity since the mid-1990s, as well as the relative decline of TVE productivity.

The Chinese Economy, second edition

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Publisher : MIT Press
ISBN 13 : 0262534797
Total Pages : 609 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis The Chinese Economy, second edition by : Barry J. Naughton

Download or read book The Chinese Economy, second edition written by Barry J. Naughton and published by MIT Press. This book was released on 2018-03-16 with total page 609 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of a comprehensive overview of the modern Chinese economy, revised to reflect the end of the “miracle growth” period. This comprehensive overview of the modern Chinese economy by a noted expert on China's economic development offers a quality and breadth of coverage not found in any other English-language text. In The Chinese Economy, Barry Naughton provides both a broadly focused introduction to China's economy since 1949 and original insights based on his own extensive research. This second edition has been thoroughly revised to reflect a decade of developments in China's economy, notably the end of the period of “miracle growth” and the multiple transitions it now confronts—demographic, technological, macroeconomic, and institutional. Coverage of macroeconomic and financial policy has been significantly expanded. After covering endowments, legacies, economic systems, and general issues of economic structure, labor, and living standards, the book examines specific economic sectors, including agriculture, industry, technology, and foreign trade and investment. It then treats financial, macroeconomic, and environmental issues. The book covers such topics as patterns of growth and development, including population growth and the one-child family policy; the rural and urban economies, including rural industrialization and urban technological development; incoming and outgoing foreign investment; and environmental quality and the sustainability of growth. The book will be an essential resource for students, teachers, scholars, business practitioners, and policymakers. It is suitable for classroom use for undergraduate or graduate courses.

State-Owned Enterprise's Ownership Reform

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Publisher : Taylor & Francis
ISBN 13 : 1000825779
Total Pages : 313 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis State-Owned Enterprise's Ownership Reform by : Zhigang Zheng

Download or read book State-Owned Enterprise's Ownership Reform written by Zhigang Zheng and published by Taylor & Francis. This book was released on 2022-12-27 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: In reviewing the new round of state-owned enterprise (SOE) reforms characterized by mixed ownership since 2013 in China, this book systematically investigates the theoretical underpinnings, model options and approaches to implementation of SOE mixed-ownership reforms. SOE reforms have functioned as an integral part of China’s transformation to a market-oriented economy. Responding to the changing economic context and negative repercussions of earlier SOE reforms launched in the late 1990s, SOE mixed-ownership reforms encourage the participation of different types of capital and sounder management mechanisms. The author first reviews the impetus behind SOE mixed-ownership reforms and discusses how modern property rights theory and decentralized control theory perform as the theoretical underpinnings of the reforms. Based on cases of many completed SOE mixed-ownership reforms, the book summarizes and assesses the feasible models and implementation details of the reforms. It also examines how the reforms have impacted state-owned assets as well as executives’ compensation and incentives, both of which run parallel to the core reforms surrounding ownership. The book will appeal to professional readers studying entrepreneurial theory, corporate governance, China’s SOE reforms and Chinese business and the economy, as well as investors and policy makers interested in the Chinese market and Chinese enterprise reform.

Using Effective Contractual Incentives to Obtain Superior Contractor Performance

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Publisher :
ISBN 13 : 9781423532002
Total Pages : 125 pages
Book Rating : 4.5/5 (32 download)

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Book Synopsis Using Effective Contractual Incentives to Obtain Superior Contractor Performance by : Timothy B. Venable

Download or read book Using Effective Contractual Incentives to Obtain Superior Contractor Performance written by Timothy B. Venable and published by . This book was released on 2000-12-01 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this thesis is to provide the reader with the ability to analyze the effectiveness of incentives and to document innovative approaches to incentive contracting that can be applied to Cost-Plus-Award-Fee (CPAF) contracts. While a CPAF contract is a vehicle to obtain products or services needed by the Government, it also acts as a management tool for the awarding entity, which focuses on the impact of meeting or exceeding award criteria. The need for improved procurement effectiveness necessitates the exploration of innovative arrangements. Contracting officers must take advantage of reforms and become innovative in their approach to provide best value in programs. More efficient ways of doing business are available and must be capitalized upon. Changes in the regulations have given the contracting officer the freedom to innovate. They must use this new freedom in order to meet DoD's expanding requirements with increasingly limited resources. The use of innovative incentives to contractor performance is beginning a period of renaissance. Numerous Government entities have embraced the use of innovative arrangements in the effort to get goods and services better, faster, and cheaper. The contracting officer must determine which incentives are most effective for a program based upon numerous variables.

Incentive Contracts

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ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Incentive Contracts by : United States. General Accounting Office

Download or read book Incentive Contracts written by United States. General Accounting Office and published by . This book was released on 1987 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Regime Legitimacy in Contemporary China

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Publisher : Routledge
ISBN 13 : 1134036302
Total Pages : 321 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Regime Legitimacy in Contemporary China by : Thomas Heberer

Download or read book Regime Legitimacy in Contemporary China written by Thomas Heberer and published by Routledge. This book was released on 2008-08 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using in-depth case studies of a wide-range of political, social and economic reforms in contemporary China this volume sheds light on the significance and consequences of institutional change for stability of the political system in China. The contributors examine how reforms shape and change Communist rule and Chinese society, and to what extent they may engender new legitimacy for the CCP regime and argue that authoritarian regimes like the PRC can successfully generate stability in the same way as democracies. Topics addressed include: ideological reform, rural tax- for-fees reforms, elections in villages and urban neighbourhood communities, property rights in rural industries, endogenous political constraints of transition, internalising capital markets, the media market in transition, the current social security system, the labour market environmental policy reforms to anti-poverty policies and NGOs. Exploring the possibility of legitimate one-party rule in China, this book is a stimulating and informative read for students and scholars interested in political science and Chinese politics

An Essay on Economic Reforms and Social Change in China

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4./5 ( download)

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Book Synopsis An Essay on Economic Reforms and Social Change in China by : Assar Lindbeck

Download or read book An Essay on Economic Reforms and Social Change in China written by Assar Lindbeck and published by World Bank Publications. This book was released on 2006 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The author applies a systems-oriented "holistic" approach to China's radical economic reforms during the past quarter of a century. He characterizes China's economic reforms in terms of a multidimensional classification of economic systems. When looking at the economic consequences of China's change of economic system, he deals with both the impressive growth performance and its economic costs. The author also studies the consequences of the economic reforms for the previous social arrangements in the country, which were tied to individual work units-agriculture communes, collective firms, and state-owned enterprises. He continues with the social development during the reform period, reflecting a complex mix of social advances, mainly in terms of poverty reduction, and regresses for large population groups in terms of income security and human services, such as education and, in particular, health care. Next, the author discusses China's future policy options in the social field, whereby he draws heavily on relevant experiences in industrial countries over the years. The future options are classified into three broad categories: policies influencing the level and distribution of factor income, income transfers including social insurance, and the provision of human services.

Effects of Incentive Contracts in Research and Development

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Publisher : Forgotten Books
ISBN 13 : 9780666180346
Total Pages : 48 pages
Book Rating : 4.1/5 (83 download)

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Book Synopsis Effects of Incentive Contracts in Research and Development by : Edward B. Roberts

Download or read book Effects of Incentive Contracts in Research and Development written by Edward B. Roberts and published by Forgotten Books. This book was released on 2018-02-23 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Effects of Incentive Contracts in Research and Development: A Preliminary Research Report In the past several years an effort has originated in the Defense Department (and followed by other government agencies) to discourage the use of cost-p1us=fixed fee (cpff) contracts and substitute contractual incentive arrangements. This effort supposedly relies upon the profit motive to reduce requirements for direct government control and to stim ulate better contractor performance and cost estimating. Incentive type contracts are not new in government contracting. Production contracts have been awarded on a fixed price basis for many years. The fixed price contract provides maximum correlation of contract profits with contract cost, and in theory might offer maximum cost incentive. How ever the use of incentive arrangements on r&d contracts is the novel feature of the dod (and nasa) programs of the past several years. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The Proper Scope of Government Reconsidered

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)

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Book Synopsis The Proper Scope of Government Reconsidered by : Patrick Schmitz

Download or read book The Proper Scope of Government Reconsidered written by Patrick Schmitz and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We revisit the contract-theoretic literature on privatization initiated by Hart et al. (1997). This literature has two major shortcomings. First, it is focused on ex-ante investment incentives, whereas ex-post inefficiencies which are ubiquitous in the real world cannot be explained. Second, ownership does not matter when incentive contracts can be written. Both shortcomings are due to the fact that this literature has studied the case of symmetric information only. We explore how asymmetric information leads to different kinds of ex-post inefficiencies depending on the ownership structure. Moreover, we show that under asymmetric information ownership matters even when incentive contracts are feasible.

Under New Ownership

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Publisher : Stanford Economics & Finance
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Under New Ownership by : Shahid Yusuf

Download or read book Under New Ownership written by Shahid Yusuf and published by Stanford Economics & Finance. This book was released on 2006 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the relative size of the public sector has been much reduced worldwide since the early 1980s, it remains the dominant borrower from the banking system and responsible for the majority of the non-performing assets of banks. Drawing upon new firm-level survey data, this volume assesses how changes in the ownership structure of SOEs affect management, governance, innovation, and performance, comparing these SOEs to other types of firms in China. It also considers China's reform efforts against the experiences of other transition economies. The research reveals that the medium- and longer-term gains from privatization far outweigh costs of adjustment and that the precise mechanics of privatization have little effect on outcomes. The volume argues that privatization of large industrial SOEs and market-based consolidation of small- and medium-sized enterprises will be necessary to transform them into competitive and innovative world-class firms. Chapters include: China's Industrial System: Where is it, Where it Should be Headed, and Why; Reform in China, 1978-1997; The Accelerated Change in Enterprise Ownership, 1997-2003; Chinese Ownership Reform in the East European Mirror; Empirical Evidence on the Effect of SOE Reform in China; and Making Privatization Work.

Reforming China's State-owned Enterprises and Banks

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Publisher : Edward Elgar Publishing
ISBN 13 : 1845429885
Total Pages : 451 pages
Book Rating : 4.8/5 (454 download)

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Book Synopsis Reforming China's State-owned Enterprises and Banks by : Becky Chiu

Download or read book Reforming China's State-owned Enterprises and Banks written by Becky Chiu and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is informative and readable. It will be of interest to anyone wanting to learn about the development of the Chinese economy in general and the reforms of state-owned enterprises in particular. The data and in-depth discussion presented in the book will appeal to academics as well as policymakers. Yin-Fang Zhang, Journal of the Asia Pacific Economy China watchers will welcome a book which provides a detailed insight into the two pillars of that economy: the state-owned enterprises (SOEs) and the state-owned banks (SOBs). This is a scholarly work, rich in detail. Shelagh Heffernan, The Financial Regulator For China to sustain her transformation requires that she tackle reform of her state-owned enterprises (SOEs) and banks. This book comprehensively assesses the scale of the problem, reviews previous reforms and suggested solutions. Finally the authors propose their own reform agenda, sensitive to Chinese realities. Michael Artis, European University Institute, Italy This is an excellent study of the nexus between the effects of party control, the soft budget of state-owned enterprise (SOEs) and the financial fragility of the state-owned banking system (SOBs) in China. It is both sympathetic and knowledgeable about the problems of achieving reform and progress. Beautifully written, it should become the most influential work in this field in the English-speaking world. Charles A.E. Goodhart, London School of Economics, UK This book s starting point is that after two decades of experiments, during which other transition economies have effectively privatised all of their former state enterprises, China is still endeavouring to find a way to reinvent and re-engineer its own state-owned economic establishments. The authors explore these reforms along with the problems of China s state-owned banks, which have long been troubled by the adverse loans of Chinese enterprises and face foreign competition in 2007 under China s WTO commitments. Drawing on wide-ranging case studies of enterprise reform, Becky Chiu and Mervyn Lewis combine their extensive experience to give an authoritative account of China s enterprise and bank reform agenda, involving property rights, improved corporate governance and stimulating enterprise. This book will be of great interest to business economists, academic economists and those following the development of the Chinese economy.

Incentive Contracts Versus Non-incentive Contracts

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Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.:/5 (587 download)

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Book Synopsis Incentive Contracts Versus Non-incentive Contracts by : Joseph Vincent McCarthy

Download or read book Incentive Contracts Versus Non-incentive Contracts written by Joseph Vincent McCarthy and published by . This book was released on 1967 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Multi-Task Theory of the State Enterprise Reform

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Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis A Multi-Task Theory of the State Enterprise Reform by : Chong-En Bai, David D. Li, Zhigang Tao, and Yijiang Wang

Download or read book A Multi-Task Theory of the State Enterprise Reform written by Chong-En Bai, David D. Li, Zhigang Tao, and Yijiang Wang and published by . This book was released on 2001 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: