id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cjal-3363	Zeng, James Si	State Ownership and Regulatory Costs: A Law and Economic Explanation for the Prevalence of State-Owned Enterprises in China	2018	72	.pdf	application/pdf	24080	1069	47	I. A THEORETICAL FRAMEWORK: OWNERSHIP COSTS AND REGULATORY COSTS Previous studies on the efficiency of SOEs largely focus on their financial performance.35 Put another way, these studies examine whether state ownership incurs higher social costs due to the state’s inability to control and manage enterprises compared with private investors. Table 1: The Social Costs of SOEs v. Private Enterprises Ordinary industries Regulated industries Social costs of private enterprises Low regulatory costs + low ownership costs High regulatory costs + low ownership costs Social costs of SOEs Low regulatory costs + high ownership costs Low regulatory costs + high ownership costs In a regulatory relationship, regulatory costs may be borne by the government or by the 77 Neil Gunningham, Robert A. Kagan & Dorothy Thornton, Social License and Environmental Protection: Why Business Go Beyond Compliance, 29 LAW & SOC.	cache/cjal-3363.pdf	txt/cjal-3363.txt