profitability of foreign direct investments made by overseas Chinese in China. Our paper takes advantage of a large dataset-over 50 …,000 firms over a period of eight years-that is comprised of two types of foreign firms with investments in China-those owned by … China do not outperform non-ethnically Chinese firms by a set of conventional profitability measures. We also find that the …

financial distortions on FDI inflows in China's labor-intensive industries. Following Whited and Wu (2006), we estimate the … political pecking order hypothesis that states that there is a severe lending bias in China's financial system against private …

Using a comprehensive sample of all FDI firms in China, we explore the question whether ethnicity enhances operating …