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substitutional and a complementary relationship between accounting information and reputation, an informal institution. Empirical … results using a sample of family firms listed in the Chinese A-share stock market from 2004 to 2007 show that in China, where … the legal environment is far from perfect, the complementary relationship between reputation and accounting information is …
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The phenomenon of family governance in Chinese family businesses may not only signal a high second-party agency cost that infringes on the interests of small and medium shareholders, but it may also signal this as a stable governance structure. Based on the theory of signal transmission, this...
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