We examine the diversification patterns of almost all publicly listed non-financial companies in China during the 2001 to 2005 period. More than 70 percent of the firms in our sample are diversified. We document that patterns of diversification strongly depend on firms' political connections....

Review of: Private Truths, Public Lies: The Social Consequences of Preference Falsification. By Timur Kuran. 1995. Harvard University Press: Cambridge, MA