Yang, Deming; Lu, Zhengfei; Luo, Danglun - In: China Journal of Accounting Research 7 (2014) 3, pp. 165–177
We analyze data on Chinese non-state-listed firms and find that it is easier for firms with political connections to obtain long-term loans with extended debt maturities than it is for firms without political connections. Our investigation indicates that this phenomenon is significantly less...