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Agencies can reduce problems by adopting a governance structure of multiple large shareholders. However, multiple large shareholders may collude, thereby reducing the behavior that can create long-term value for the company. This paper uses a sample of companies listed on the Shenzhen and...
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-owned enterprise (POE), will influence its likelihood of engaging in illegality in China. We build our arguments on the institution …-based view, positing that firms rationally pursue their interests in the distinct institutional context of China. Compared to …
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