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This paper provides a first look at the ownership structure in the Growth Enterprise Market (GEM) of China which is a new market launched in 2009. By analyzing the unique dataset, I find that 46% of firms in our sample are created through pyramids. I identify the status of ultimate owner of each...
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Many startups are commonly-held by the same venture capital (VC) investors. We exploit the staggered introduction of liability exemptions when investors hold stakes in conflicting business opportunities as a shock to common ownership. We find increases in common ownership and directors serving...
Persistent link: https://www.econbiz.de/10012848882
The role of corporations in allocating resources has been of great importance in the debate about the manner in which enterprises should be governed to enhance economic growth. Corporate governance features seem to be central to the dynamics by which successful firms and economies improve their...
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Until recently, governments have measured economic progress by tallying such statistics as GDP, inflation and balance of payments. Today they agree that economic expansion should be socially and environmentally sustainable. Hence measuring progress towards sustainable development is essential to...
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Concerns about natural resource scarcity, together with the increased awareness of environmental problems, has led to widespread interest in green accounting, which attempts to extend the standard national accounts to include the yields from natural and environmental resources. For this volume,...
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