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We examine the relation between family presence and corporate investment policy. Our analysis centers on two incentives that potentially lead to differences in investment policy between family firms and nonfamily firms: family owners' risk aversion and their real option to invest. Our findings...
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sizable discrepancies of stock market and financial intermediary development in east, middle and west regions of China, we … effect is most significant in the financially more developed east region of China. In the financially less developed middle …
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