Institutions and Organizational Structure: The Case of State-Owned Corporate Pyramids

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Human Capital and CEO Compensation during Institutional Transitions (2015, neutral): “As a result, it has been widely used in research in accounting (Hung et al., 2012a), economics (Hornstein, 2011), finance (Fan et al., 2013), and management (Gao et al., 2010; Shi et al., 2012; Sun et al., 2014).”
Corporate Governance Research on Listed Firms in China: Institutions, Governance and Accountability (2016, background): “Perhaps a more credible approach is to pre-commit to not intervene through pyramidal structures [Fan et al., 2013] or other arrangements that are difficult to undo by the government.”
Political Connectedness and Court Outcomes: Evidence from Chinese Corporate Lawsuits (2015, methodology): “…instrument satisfies the exclusion restriction in that, since the treaty ports and leased territories were opened over 100 years ago, their opening cannot affect how a court rules on an individual case today other than through its effect on the local legal environment (Fan, Wong, and Zhang 2013).”
Political Incentives to Suppress Negative Information: Evidence from Chinese Listed Firms (2015, background): “Qian [1996] and Fan, Wong, and Zhang [2013] argue that the Chinese government has established structural wedges between politicians and listed firms to credibly commit to not intervene in these firms' day-to-day operations.”