Government connections and the persistence of profitability: Evidence from Chinese listed firms
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DOI: 10.1016/j.ememar.2018.04.002
Abstract: Abstract We find that state owned enterprises (SOEs hereafter) have lower (higher) mean-reverting rates when profitability is better (worse) than the norm; while non-SOEs with politically connected executives have lower (higher) mean-reverting rates when profitability… read more here.
Keywords: reverting rates; government connections; profitability; connections persistence ... See more keywords