The Illusion of “Too Big to Fail” and “Soft Budget Constraint” under the Pyramidal Ownership Structure

Zheng Zhigang, Zhu Guangshun, Yuan Haoyang, Guo Jie

The Journal of World Economy ›› 2024, Vol. 47 ›› Issue (10) : 152-185.

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The Journal of World Economy ›› 2024, Vol. 47 ›› Issue (10) : 152-185.

The Illusion of “Too Big to Fail” and “Soft Budget Constraint” under the Pyramidal Ownership Structure

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{{article.zuoZheEn_L}}. {{article.title_en}}[J]. {{journal.qiKanMingCheng_EN}}, 2024, 47(10): 152-185

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