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Table 1.

Sample screening.

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Table 2.

Research variable definitions.

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Table 2 Expand

Table 3.

Descriptive statistical results of research sample.

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Table 4.

Basic regression results.

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Table 5.

The Placebo test results.

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Fig 1.

Parallel trend test in the number of foreign investors and analysis of policy dynamic.

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Fig 2.

Parallel trend test of foreign shareholding scale and analysis of policy dynamic effects.

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Table 6.

Robustness test results excluding special samples.

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Table 7.

Influence mechanism test results.

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Table 8.

Impact results of differences in analyst attention.

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Table 9.

The impact of the audit status of the four major international auditing firms.

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Table 10.

Impact of differences in the comparability of accounting information.

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Table 11.

Impact results of the exercise of rights by the Small and Medium Investor Service Center.

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Table 12.

The impact of differences in regional cultural integration.

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