Political considerations in the decision of Chinese SOEs to list in Hong Kong

摘要: Abstract This paper investigates why Chinese state-owned enterprises (SOEs) with strong political connections (i.e., politically connected firms) are more likely to list overseas than non-politically firms. We find that firms' post-overseas listing performance is worse of non-connected evidence suggests managers their firms for private (political) benefits. Consistent this benefits explanation, we further receive media coverage or a promotion senior government position subsequent domestic listing.