Do government subsidies lead to TFP losses? A perspective on the formation of zombie firms

• Ruying Chen ,

  Roles Conceptualization, Formal analysis, Methodology, Writing – original draft, Writing – review & editing

  * E-mail: chenruying@lyu.edu.cn

  Affiliation School of Business, Linyi University, Linyi, Shandong, China

  https://orcid.org/0000-0001-7925-5097

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• Danyu Liu,

  Roles Writing – original draft

  Affiliation School of Digital Economy and Management, Guangxi University of Foreign Languages, Nanning, Guangxi, China

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• Lanyu Wu,

  Roles Data curation, Project administration

  Affiliation School of Business, Linyi University, Linyi, Shandong, China

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• Donghua Yu

  Roles Writing – review & editing

  Affiliation School of Economics, Shandong University, Ji’nan, Shandong, China

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