Ding, Sai; Guariglia, Alessandra; Knight, John - In: Journal of Banking & Finance 37 (2013) 5, pp. 1490-1507
We use a panel of over 116,000 Chinese firms of different ownership types over the period 2000–2007 to analyze the linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by high working capital display high sensitivities of...