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Yum China was spun off from parent Yum Brands in 2 0 1 6 . What was this decision most likely governed by as a

Yum China was spun off from parent Yum Brands in 2016. What was this decision most likely governed by as a multinational enterprise (MNE)?
a. Organizational culture
b. US regulation concerns
c. Institution-based considerations
d. Resource-based considerations

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