Background: This study tries to investigate how firms adjust their leverage policy across the firm’s life cycle. For this purpose the study uses an extensive set of data of 867 A listed Chinese non-financial firms over a nineteen years period (1996-2014). Methods: The study employs...

The purpose of this study was to investigate the capital structure adjustment rate in different levels of product market competitions. We classified Chinese non-financial listed firms into highly, moderately, and less competitive firms and applied an unbiased dynamic panel fractional estimator...

China has introduced several governance practices to guide the healthy development of the capital market, which have prompted the development of Directors’ and Officers’ liability insurance (D&O insurance). This study finds that purchase of D&O insurance has a negative effect on corporate...