This paper uses a unique natural experiment in Chinese villages to investigate whether access to telecommunications- in particular, landline phones-increases the likelihood of outmigration. By using regional and time variations in the installation of landline phones, the...

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...