land Article What Drives Different Governance Modes and Marketization Performance for Collective Commercial Construction Land in Rural China? Zhun Chen 1,2, Yuefei Zhuo 3,* , Guan Li 3 and Zhongguo Xu 3 1 Department of Land Management, School of Public Affairs, Zhejiang University, Hangzhou 310058, China;
[email protected] 2 Department of Environment and Planning, Henan University, Kaifeng 475004, China 3 Law School, Ningbo University, Ningbo 315211, China;
[email protected] (G.L.);
[email protected] (Z.X.) * Correspondence:
[email protected] Abstract: The collective commercial construction land (CCCL) reform in China has attracted consid- erable attention worldwide, but studies on the influencing factors and performance of governance modes for CCCL marketization are still in their infancy. First, by deconstructing CCCL, this study developed a conceptual framework from the perspective of transaction cost economics. Based on a series of surveys, interviews, and closed questionnaires in two pilot areas, this study determined the influencing factors for governance mode choice for CCCL marketization through comparative case studies and compared the performance of the government-led and self-organized modes. This study concluded that asset specificity, uncertainty, and frequency were the main influencing factors for transaction costs, which could influence the choice of governance mode for CCCL marketization. Citation: Chen, Z.; Zhuo, Y.; Li, G.; Moreover, the characteristics of the two aforementioned governance modes, transaction costs, and Xu, Z. What Drives Different specific revenue distribution resulted in different marketization performances. Governance Modes and Marketization Performance for Keywords: collective construction land; modes of governance; transaction attributes; transaction Collective Commercial Construction cost economics; performance difference Land in Rural China? Land 2021, 10, 319.