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Using plausibly exogenous variation in Chinese imports, we provide evidence that firms strategically announce capacity expansions when facing entry threats. We first construct and validate a novel text-based measure of voluntary disclosure that reflects firms' explicit forward-looking statements...
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This paper suggests a two-dimensional concept of nonliberal capitalism: coordinated capitalism (as described in the … varieties of capitalism framework) and organized capitalism. While the coordination function of institutions canalizes … interests, class interests, or political interests). I construct an index on organized capitalism by combining data on ownership …
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Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...
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