Ur Rehman, Ajid; Wang, Man; Yu, Haoyang - In: China finance and economic review : CFER 4 (2016), pp. 1-22
period (1996-2014). Methods: The study employs Arellano-Bover/Blundell-Bond dynamic panel data model to estimate adjustment … leverage, dynamic panel data reports highest adjustment rate for growing firms, followed by mature firms and firms in declining …