Jiahua Che

TL;DR: Li et al. as mentioned in this paper developed a theory of the ownership of firms in an environment without secure property rights against state encroachment, and used this theory to interpret the relative success of local government-owned firms during China's transition to a market economy.

TL;DR: In this paper, the central role of community governments in township-village enterprises (TVEs) was analyzed from an organizational perspective with a focus on governance, and it was shown that the community government's involvement in TVEs helps overcome the problems of state predation and under-financing of private enterprises.

TL;DR: Li et al. as mentioned in this paper argued that it may become more credible for the state to prey on government owned enterprises less than private enterprises, as government agencies carry out certain government activities financed by tax revenue.

TL;DR: In this paper, the central role of community governments in township-village enterprises (TVEs) was analyzed from an organizational perspective with a focus on governance, and it was shown that the community government's involvement in TVEs helps overcome the problems of state predation and under-financing of private enterprises.

TL;DR: Li et al. as mentioned in this paper developed a theory of ownership under state predation that incorporates these two considerations, and interpreted local government ownership as an organizational response to imperfect state institutions, which may not only provide incentives for local governments, but also involve less revenue hiding from the local government and less predation from the state.