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Initial Coin Offerings (ICOs) have grown substantially in recent years. They involve issuing coins that are recorded on a block-chain. These can be used to purchase the service or good that the firm they finance produces. The coins can be exchanged for currency on cryptocurrency exchanges....
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We examine the privatization process of the Industrial and Commercial Bank of China (ICBC), the largest bank in the world by market capitalization, and its dual IPOs in the Hong Kong and Shanghai Stock exchanges in 2006. The Chinese government retains majority equity ownership of ICBC while...
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