Lin, Chen; Ma, Yue; Malatesta, Paul; Xuan, Yuhai - In: Journal of Financial Economics 109 (2013) 2, pp. 517-534
This article examines the relation between a borrowing firm's ownership structure and its choice of debt source using a novel data set on corporate ownership, control, and debt structures for 9,831 firms in 20 countries from 2001 to 2010. We find that the divergence between the control rights...