State ownership, bank loans, and corporate investment.
(2014)
Journal Article
Jiang, W., & Zeng, Y. (2014). State ownership, bank loans, and corporate investment. International Review of Economics and Finance, 32, 92-116. https://doi.org/10.1016/j.iref.2014.01.009
We study the effect of bank loans on Chinese publicly listed firms' investment decisions based on the underinvestment and overinvestment theories of leverage. Evidence from China is of particular importance because China is the world's largest emergi... Read More about State ownership, bank loans, and corporate investment..