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Manuscript Type: EmpiricalResearch Question/Issue: We examine determinants of cash holdings in Chinese subsidiaries of U.S. multinational corporations (MNCs), a setting where growth opportunities make cash holdings desirable for investment opportunities but also vulnerable to potential...
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Dual-class firms face great criticism as it is believed that firms choose this structure to expropriate minority shareholders’ wealth. We compare market performance of Chinese dual-class firms with their single-class counterparts by constructing a list of Chinese firms cross-listed on U.S....
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