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Studies by Chan,Karceski,and Lakonishok (2003)and La Porta,Lakonishok,Shleifer,and Vishny (1997)report That

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Studies by Chan,Karceski,and Lakonishok (2003) and La Porta,Lakonishok,Shleifer,and Vishny (1997) report that


Definitions:

External

Originating from or situated outside of something or someone, often influencing or affecting it from the outside.

Operationalization

The process of defining a fuzzy concept so as to make the concept measurable and to understand it in terms of empirical observations.

Annual Income

The total amount of money an individual or household earns in one year, often used to measure economic status.

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