In Strange Company: The Puzzle of Private Investment in State-Controlled Firms. Aldo Musacchio, February 14, 2013, Paper. "A large legal and economic literature describes how state-owned enterprises (SOEs) suffer from a variety of agency and political problems. Less theory and evidence, however, have been generated about the reasons why state-owned enterprises listed in stock markets manage to attract investors to buy their shares (and bonds). In this Article, we examine this apparent puzzle and develop a theory of how legal and extralegal constraints allow mixed enterprises..." Link verified March 27, 2014