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period of 2007 to 2012. The study demonstrates that large, high-growth firms and firms with low leverage are more likely to …
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Background: This study tries to investigate how firms adjust their leverage policy across the firm’s life cycle. For … rate of leverage and its determinants in three different life stages of Chinese firms. We find that adjustment rate of … leverage varies for different life stages. Results: In accordance with trade off theory of capital structure this study reports …
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Using a unique dataset which provides information on the financial structure of start-up companies in the Chinese manufacturing industry, this paper documents robust evidence that access to formal financing channels has beneficial effects on firm size, these effects being more marked as we move...
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