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Firm-level factors also influence the credit-granting decisions of SOEs, with SOEs with lower levels of state ownership and higher extents of internationalization offering lower amounts of trade credit. Overall, our study offers novel insights regarding the important role of state-owned firms as providers of liquidity.When is it fitting for an agent to feel guilt over an outcome, and for others to be morally indignant with her over it? A popular answer requires that the outcome happened because of the agent, or that the agent was a cau
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