Subsidized overexpansion of Chinese firms
This paper examines the economic consequences of public subsidies to listed firms in China. It reveals that public subsidies can significantly increase the chance of firm overinvestment. However, they do not necessarily resolve the underinvestment problem. These results appear robust when we test va...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2019
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| Subjects: | |
| Online Access: | https://eprints.nottingham.ac.uk/56253/ |