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the controlling shareholders of the privatized SOEs. Second, the Split-Share Structure Reform (SSSR) initiated in 2005 … repealed the restrictions on the transferability of controlling shareholders' shares. We report three main findings relating …
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Majority rule is known to be at odds with utilitarianism --- majority rule follows the preferences of the median voter whereas a utilitarian planner would follow the preferences of the mean voter. In this paper, we show that when voting is costly and voluntary, turnout endogenously adjusts so...
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