【简报】 北京大学汇丰商学院系列研究讨会（223）
2017-03-30 00:00:00
2017年3月14日下午14：00，在北京大学汇丰商学院337室，来自清华大学经济管理学院的黄张凯教授为北京大学汇丰商学院师生带来一场题为“Hayek, Local Information, and Commanding Heights: Decentralizing State-Owned Enterprises in China”的讲座。
黄张凯博士于2003年获得牛津大学金融学博士学位，1999年获得埃塞克斯大学金融学硕士学位，1998年获得广东外语外贸大学国际商务学士学位。黄张凯博士的主要研究领域为公司金融和新制度经济学，目前他正在进行制度变迁，私有化，资本市场流动性，风险投资等领域的研究。
摘要：
Hayek (1945) argues that local information is a key to understanding the efficiency of alternative economic systems and whether production should be centralized or decentralized. The Chinese experience of decentralizing SOEs confirms this insight: when the distance to the government is farther, the SOE is more likely to be decentralized, and this distance-decentralization link is more pronounced with higher communication costs and greater firm-performance heterogeneity. However, when the Chinese central government oversees SOEs in strategic industries, the distance-decentralization link is muted. We also consider alternative agency-cost-based explanations, and do not find much support.
