Abstract
Given the importance Marathon attaches to rational capital allocation and the need for supply-side discipline, it is not surprising that very few investments have been made in mainland Chinese equities over the years. Many of these firms are state-controlled. As a result, the efficiency of capital allocation and the interest of outside shareholders (particularly foreigners) tends to be subordinate to the state’s policy objectives.
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© 2016 Marathan Asset Management LLP
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Chancellor, E. (2016). China Syndrome. In: Chancellor, E. (eds) Capital Returns. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-57165-6_7
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DOI: https://doi.org/10.1007/978-1-137-57165-6_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-55541-3
Online ISBN: 978-1-137-57165-6
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