The performance of private companies in China before and during the global financial crisis: firms’ characteristics and entrepreneurs’ attributes

Abstract This work sheds light on how firm- and entrepreneur-specific attributes covariate with Chinese private firms’ growth rates before during the global financial crisis. In order to do so, we exploit exceptional presence of data regarding sales over previous three years in 2010 China Private Enterprises Survey. Firms run by entrepreneurs a high level education positive subjective perception their economic social status tend grow more both periods. The age gender entrepreneurs, contrary, are not associated different performances. As shown literature, companies that smaller, productive have higher capital at start-up perform better Notably, relationship between firm other relevant factors changes 2007/2008 2008/2009: privatized outperform others crisis, whereas joint-stock enterprises articulated systems corporate governance crisis period. These novel results contribute understanding heterogeneous performances firms evolution entrepreneurship its transition toward market-oriented economy.