03065nam 2200553 a 450 991046483420332120181012004108.01-4623-2153-41-4527-2288-91-283-51381-197866138262681-4519-1026-6(CKB)3360000000443617(EBL)1608458(OCoLC)568151191(MiAaPQ)EBC1608458(EXLCZ)99336000000044361720090807d2007 uy 0engurcn|||||||||Das (wasted) kapital[electronic resource] firm ownership and investment efficiency in China /prepared by David Dollar and Shang-Jin Wei[Washington, D.C.] International Monetary Fund20071 online resource (40 p.)IMF working paper ;WP/07/9At head of title: Research Department."January 2007."1-4518-6573-2 Includes bibliographical references (p. 19).Contents; I. Introduction; II. Conceptual Framework; III. Data; IV. Statistical results; V. Conclusion; References; Tables; 1. Firm Classification by Actual Ownership versus Registration; 2. Sources of Financing for Working Capital by Ownership Type; 3. Sources of Financing for Investment by Ownership Type; 4. Summary Statistics of VA/K Ratio; 5. Average Revenue Product of Capital and Ownership; 6. Average Returns to Capital: Adding Firm Size [ln(employment)]; 7. Summary Statistics of Marginal Revenue Product of Capital; 8. Marginal Revenue Product of Capital ((VA- wL)/K) and Ownership1. City Fixed Effects from Regression of ln(VA/K)2. City Fixed Effects from Regression of ln(VA/K)Based on a survey that we designed and that covers a stratified random sample of 12,400 firms in 120 cities in China with firm-level accounting information for 2002-2004, this paper examines the presence of systematic distortions in capital allocation that result in uneven marginal returns to capital across firm ownership, regions, and sectors. It provides a systematic comparison of investment efficiency among wholly and partially state-owned, wholly and partially foreign owned, and domestic privately owned firms, conditioning on their sector, location, and size characteristics. It finds that eIMF working paper ;WP/07/9.Business enterprisesChinaFinanceEconometric modelsCorporationsChinaFinanceChinaEconomic conditions20th centuryElectronic books.Business enterprisesFinanceEconometric models.CorporationsFinance.332.11Dollar David280556Wei Shang-Jin118987International Monetary Fund.Research Dept.MiAaPQMiAaPQMiAaPQBOOK9910464834203321Das (wasted) kapital1940616UNINA