{"id":"https://openalex.org/W2141463495","doi":"https://doi.org/10.1142/s0219622011004361","title":"OPTIMAL TIMING AND EQUILIBRIUM PRICE FOR SOE PROPERTY RIGHTS TRANSFER UNDER IMPERFECT INFORMATION","display_name":"OPTIMAL TIMING AND EQUILIBRIUM PRICE FOR SOE PROPERTY RIGHTS TRANSFER UNDER IMPERFECT INFORMATION","publication_year":2011,"publication_date":"2011-03-01","ids":{"openalex":"https://openalex.org/W2141463495","doi":"https://doi.org/10.1142/s0219622011004361","mag":"2141463495"},"language":"en","primary_location":{"id":"doi:10.1142/s0219622011004361","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0219622011004361","pdf_url":null,"source":{"id":"https://openalex.org/S207089700","display_name":"International Journal of Information Technology & Decision Making","issn_l":"0219-6220","issn":["0219-6220","1793-6845"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Information Technology & Decision Making","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5019293320","display_name":"Zhuming Chen","orcid":"https://orcid.org/0000-0002-4361-2408"},"institutions":[{"id":"https://openalex.org/I157773358","display_name":"Sun Yat-sen University","ror":"https://ror.org/0064kty71","country_code":"CN","type":"education","lineage":["https://openalex.org/I157773358"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"ZHUMING CHEN","raw_affiliation_strings":["Department of Finance and Investment, School of Business, Sun Yat-sen University, Guangzhou, 510275, P. R. China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance and Investment, School of Business, Sun Yat-sen University, Guangzhou, 510275, P. R. China","institution_ids":["https://openalex.org/I157773358"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5026000940","display_name":"Shunming Zhang","orcid":"https://orcid.org/0000-0003-2961-7699"},"institutions":[{"id":"https://openalex.org/I78988378","display_name":"Renmin University of China","ror":"https://ror.org/041pakw92","country_code":"CN","type":"education","lineage":["https://openalex.org/I78988378"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"SHUNMING ZHANG","raw_affiliation_strings":["China Financial Policy Research Center, School of Finance, Renmin University of China, Beijing, 100872, P. R. China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"China Financial Policy Research Center, School of Finance, Renmin University of China, Beijing, 100872, P. R. China","institution_ids":["https://openalex.org/I78988378"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.7101,"has_fulltext":false,"cited_by_count":7,"citation_normalized_percentile":{"value":0.87488556,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":94},"biblio":{"volume":"10","issue":"02","first_page":"353","last_page":"372"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9993000030517578,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9993000030517578,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10471","display_name":"Climate Change Policy and Economics","score":0.9812999963760376,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9750999808311462,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.6459676623344421},{"id":"https://openalex.org/keywords/property-rights","display_name":"Property rights","score":0.5786728262901306},{"id":"https://openalex.org/keywords/divestment","display_name":"Divestment","score":0.5781062841415405},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.5148200392723083},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"Information asymmetry","score":0.4574659466743469},{"id":"https://openalex.org/keywords/transfer","display_name":"Transfer (computing)","score":0.4474489688873291},{"id":"https://openalex.org/keywords/perfect-information","display_name":"Perfect information","score":0.4381352663040161},{"id":"https://openalex.org/keywords/imperfect","display_name":"Imperfect","score":0.43557700514793396},{"id":"https://openalex.org/keywords/information-transfer","display_name":"Information transfer","score":0.4101521372795105},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.16992247104644775},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.14632317423820496}],"concepts":[{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.6459676623344421},{"id":"https://openalex.org/C86511162","wikidata":"https://www.wikidata.org/wiki/Q8799101","display_name":"Property rights","level":2,"score":0.5786728262901306},{"id":"https://openalex.org/C181190989","wikidata":"https://www.wikidata.org/wiki/Q1200733","display_name":"Divestment","level":2,"score":0.5781062841415405},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5148200392723083},{"id":"https://openalex.org/C137577040","wikidata":"https://www.wikidata.org/wiki/Q431965","display_name":"Information asymmetry","level":2,"score":0.4574659466743469},{"id":"https://openalex.org/C2776175482","wikidata":"https://www.wikidata.org/wiki/Q1195816","display_name":"Transfer (computing)","level":2,"score":0.4474489688873291},{"id":"https://openalex.org/C123676819","wikidata":"https://www.wikidata.org/wiki/Q1074338","display_name":"Perfect information","level":2,"score":0.4381352663040161},{"id":"https://openalex.org/C2780310539","wikidata":"https://www.wikidata.org/wiki/Q12547192","display_name":"Imperfect","level":2,"score":0.43557700514793396},{"id":"https://openalex.org/C8854915","wikidata":"https://www.wikidata.org/wiki/Q4350200","display_name":"Information transfer","level":2,"score":0.4101521372795105},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.16992247104644775},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.14632317423820496},{"id":"https://openalex.org/C173608175","wikidata":"https://www.wikidata.org/wiki/Q232661","display_name":"Parallel computing","level":1,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C76155785","wikidata":"https://www.wikidata.org/wiki/Q418","display_name":"Telecommunications","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1142/s0219622011004361","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0219622011004361","pdf_url":null,"source":{"id":"https://openalex.org/S207089700","display_name":"International Journal of Information Technology & Decision Making","issn_l":"0219-6220","issn":["0219-6220","1793-6845"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Information Technology & Decision Making","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:wsi:ijitdm:v:10:y:2011:i:02:n:s0219622011004361","is_oa":false,"landing_page_url":"http://www.worldscientific.com/doi/abs/10.1142/S0219622011004361","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:wsi:ijitdm:v:10:y:2011:i:02:p:353-372","is_oa":false,"landing_page_url":"http://www.worldscinet.com/cgi-bin/details.cgi?type=html&id=pii:S0219622011004361","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":18,"referenced_works":["https://openalex.org/W602543144","https://openalex.org/W1991437092","https://openalex.org/W1993224175","https://openalex.org/W1999189593","https://openalex.org/W2000141318","https://openalex.org/W2015636053","https://openalex.org/W2026719380","https://openalex.org/W2069107670","https://openalex.org/W2071854262","https://openalex.org/W2104881844","https://openalex.org/W3121236532","https://openalex.org/W3121906526","https://openalex.org/W3122096248","https://openalex.org/W3123529374","https://openalex.org/W3125716540","https://openalex.org/W3125876675","https://openalex.org/W4237698691","https://openalex.org/W4365787967"],"related_works":["https://openalex.org/W4213251761","https://openalex.org/W4247366804","https://openalex.org/W3045541022","https://openalex.org/W2540536730","https://openalex.org/W2904511012","https://openalex.org/W4309151157","https://openalex.org/W632692523","https://openalex.org/W2361587854","https://openalex.org/W2255600020","https://openalex.org/W2154437997"],"abstract_inverted_index":{"This":[0],"paper":[1],"develops":[2],"a":[3,15,41,49],"model":[4,60],"of":[5,37,135],"pricing":[6,143],"for":[7,126,132],"state-owned":[8],"enterprise":[9],"(SOE)":[10],"property":[11,137],"rights":[12],"transfer":[13,67,79,89,134],"in":[14,25],"dynamic":[16],"economic":[17],"environment.":[18],"We":[19],"incorporate":[20],"competition":[21],"and":[22,28,34,48,69,87,111,147],"imperfect":[23],"information":[24],"the":[26,30,65,70,76,78,81,84,88,94,99,101,114,119,133],"model,":[27],"determine":[29],"equilibrium":[31,66],"selling":[32],"price":[33,68],"optimal":[35,71],"timing":[36,72],"takeovers":[38],"by":[39],"solving":[40],"real":[42],"options":[43],"exercise":[44],"game":[45],"between":[46],"bidders":[47],"target.":[50],"The":[51,59,92,103,139],"main":[52],"conclusions":[53],"are":[54],"consistent":[55],"with":[56],"real-world":[57],"experience.":[58],"generates":[61],"new":[62],"results":[63],"as":[64],"relate":[73],"to":[74,117],"industry,":[75],"target,":[77],"costs,":[80],"expected":[82,96,104],"synergies,":[83],"re-divestiture":[85],"option,":[86],"markets'":[90],"microstructure.":[91],"more":[93],"bidders'":[95],"synergy":[97,105,120],"effects,":[98],"faster":[100],"acquisitions.":[102],"effects":[106,121],"differ":[107],"among":[108],"various":[109],"bidders,":[110],"auction":[112],"is":[113],"only":[115],"way":[116],"reflect":[118],"correctly.":[122],"An":[123],"active":[124],"market":[125],"corporate":[127],"control":[128],"will":[129],"be":[130],"helpful":[131],"SOE":[136],"rights.":[138],"model's":[140],"applications":[141],"include":[142],"M&A,":[144],"venture":[145],"capital,":[146],"IPOs.":[148]},"counts_by_year":[{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-06-11T09:08:48.828518","created_date":"2025-10-10T00:00:00"}