Shares versus residual claimant contracts: the case of Chinese TVEs
Article Abstract:
An analysis of the finance practices of Chinese town and village enterprises reveals that share profit contracts have greater incentive effects than quota contracts from the profit maximization perspective. The study also points out that that there are various imperfections in the Chinese product and factor markets that present an important opportunity for local governments to act on firms' behalf.
Publication Name: Journal of Comparative Economics
Subject: Economics
ISSN: 0147-5967
Year: 1998
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Do lending relationships matter? Evidence from bank survey data in Germany
Article Abstract:
It has been possible to produce empirical evidence that loan rates, collateral needs and credit availability may be explained by the theory of social interactions, as well as by the theories of financial intermediation and relationship lending. It has also been shown that loan rates do not depend on the duration of the lending relationship.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2001
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