It preliminarily shows that the average value of creditor protection level of the first two types of enterprises may be affected by the impact of legal changes under the original trend, while the central state-owned enterprises have a weak trend, which is consistent with the economic intuition that the company is large, free capital is sufficient, and the nature of the enterprise is special.
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Piercing the corporate veil system and creditors protection: Based on the investigation of debt paying ability--Empirical evidence from the 2005 Company Law amendment.
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