Dou, Huan; Fan, Sheng; Liang, Shangkun - In: China journal of accounting studies 11 (2023) 2, pp. 399-422
Using the data of all A-share listed companies from 2009 to 2018, we find that the group finance companies inhibit the dynamic adjustment speed of capital structure to their optimal level of the related listed companies. The reason is that the controlling shareholders may occupy the related...