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A family has 80% of the cash flow rights of firm A. Firm A has 50% of the cash flow rights of firm B. Firm B has 40% of the cash flow rights of firm C. A family has 80% of the voting rights of firm A. Firm A has 75% of the voting rights of firm B. Firm B has 60% of the voting rights of firm C.
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When p-value is greater than alpha, we do not reject the null hypothesis.
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