This paper delves into the link between residual government ownership and investment efficiency in privatised firms in a transitional economy. The study uses a data set covering firms listed on the Ho Chi Minh City stock exchange, Vietnam, over the period from 2007 to 2015. It is found that firms with higher residual government ownership are associated with lower levels of investment efficiency. The finding suggests that government ownership is less beneficial than private ownership in privatised firms. The paper has important implications for policymakers in supporting privatisation policy and in designing a framework to promote better corporate governance in privatised firms after privatisation.

中文翻译：

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私有化公司中的剩余政府所有权和公司投资效率：来自转型国家的证据

本文探讨了转轨经济中私有化公司中剩余政府所有权与投资效率之间的联系。该研究使用了涵盖2007年至2015年期间在越南胡志明市证券交易所上市的公司的数据集。研究发现，残留政府所有权较高的公司与较低的投资效率相关。该发现表明，私有化公司中的政府所有制比私有制没有什么好处。该文件对政策制定者在支持私有化政策以及设计框架以促进私有化后的私有化公司中更好的公司治理方面具有重要意义。