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Expropriation risk by block holders, institutional quality and expected stock returns

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Table 1 Summary of ownership, free float and investor protection statistics This table reports summary statistics for the sample markets
Table 2 Factor mimicking portfolio summary statistics – for aggregate World market universe This table reports the descriptive statistics, autocorrelations (at 1, 6 and 12 lags) for returns-based valuation factors including the Market, the Fama and French
Table 3 Factor mimicking portfolio summary statistics – for aggregate World market and US only universes This table reports the stock counts by country and ownership descriptive statistics for all ten decile sorted investor protection portfolios (D1 – D10)
Table 4  Empirical results for 10 investor protection (1 year rank and holding period) decile portfolios – for all universes This table reports the beta coefficients for valuation factors with t-statistics, explanatory power (R2) and standard errors for th
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