by Chinese firms. In line with the previous literature, the paper demonstrates that investment by non-state firms is … reliance on internal cash flows to fund investment). The paper also finds that large non-state firms with weak government … resources after the "grabbing-the-big-and-letting-go-the-small" privatization program in China. Firms with government …

by Chinese firms. In line with the previous literature, the paper demonstrates that investment by non-state firms is … reliance on internal cash flows to fund investment). The paper also finds that large non-state firms with weak government … resources after the "grabbing-the-big-and-letting-go-the-small" privatization program in China. Firms with government …

flows to fund investment), and that the sensitivity of investment to internal cash flows is higher for firms that report …, likely the engine for innovation in the coming years in China, are especially financially constrained, due perhaps to the …-the-big-and-letting-go-the-small' privatization program in China. Our empirical results suggest that government connections play an important role in explaining …

-supporting (financial) institutions should become more important. This paper re-examines these issues in the context of China in 2002, a … for the security of property rights into two groups: those measuring the risk of expropriation by the government and those … measuring the ease and reliability of contract enforcement. Whereas those authors' cross-country results suggest that risk of …