Project of National Natural Science Foundation (Grant No. 70773071,Grant No. 71173138);Project of Scientific Research Foundation for the Returned Overseas Chinese Scholars,State Education Ministry;Shandong Soft Science Research Project (Grant No. 2010RKGA3016)
Given the existence of transaction costs,the location of property rights is an important factor in determining the incentives for efficient levels of investment at various levels of the industry.This paper applies som...