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Based on hand-collected information on private companies listed in the Chinese SME stock market, this paper studies how … benefit. Also, we find that in regions with poorer institutional environment (such as the central and western regions of China …
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Using a sample of hi-tech Chinese small and medium-size enterprises (SMEs), we compare financing costs for family and nonfamily firms. We find that family SMEs enjoy relatively lower average financing costs through mitigating agency problems, the provision of greater collateral, and the reliance...
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