题目：Hayek, Local Information, and Commanding Heights: Decentralizing    State-Owned Enterprises in China

作者：Zhangkai Huang，Lixing Li，Guangrong Ma，Lixin Colin Xu

报告人:  张子楠 博士  丁建福 副教授

时间：2017 年 3 月 9 日 16:00 — 17:30

地点：浙江财经大学财税学院 1 号楼 302 室

主办单位：浙江财经大学财政税务学院

内容摘要：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.