1. The Improbably Surge of Corporate China -- 2. What Is in a Great Company? -- 3. Does ROIC Apply to Corporate China? -- 4. The “Great” Hope Struggles -- 5. It Is Also About Corporate Governance -- 6. The Perils of Diversification -- 7. Shake up the Foundations -- 8. The Beginning of A...

This paper provides robust empirical evidence that trade liberalization significantly impact corporate financing decisions. Trade liberalization results in changes in tariff schedules in both domestic and foreign markets, which are most likely exogenous to individual firms. Our empirical...