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英语翻译Friedman et al.,(2003)’s model provides us fundamental u

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英语翻译
Friedman et al.,(2003)’s model provides us fundamental understanding of the nature of tunneling and propping.However,as also mentioned in their paper,direct empirical evidence of propping is lacking and there is no evidence of tunneling in their paper too.Continuing with their efforts,this paper tries to provide direct evidence for both tunneling and propping by studying connected transactions in China – a direct means for Chinese controlling shareholders to engage tunneling or propping.The uniqueness of the ownership structure of Chinese firms and the stock market regulations in China enable us to understand the timing and the size of tunneling and propping within the same firm,which is hard to observe and to be tested in other countries.
英语翻译Friedman et al.,(2003)’s model provides us fundamental u
弗里德曼等人.,(2003)的模型为我们提供了利益输送的性质的基本了解.然而,在他们的论文中也提到,支持直接的经验证据的缺乏,没有证据表明,隧穿在他们的论文中也.继续努力,本文试图对输送通过研究中国–中国控股股东从事隧道或支持直接连接交易提供了直接的证据.唯一的中国企业的股权结构,在中国股票市场的制度使我们了解时间和掏空和支持在同一家公司的大小,这是很难观察和在其他国家进行的测试.