marginal enforceability of debt contracts written at the parent and subsidiary level. The enforceability of creditor claims … depends not only on the legal regime but also on the size of the debt claims and the liquidation value of the firm's assets …

. The empirical results investigated that Short term debt ratio and Long term debt ratio has significantly negative …-term debt ratio and Long-term debt ratio …

determining leverage ratios. More specially, we find that managerial ownership has a positive and significant impact on firms …' leverage, consistent with the incentive alignment hypothesis. We also find that managerial ownership only affects the leverage … decisions of private firms in the post-2005 split share reform period. State ownership negatively influence leverage decisions …

issue debt, decreased propensities to issue equity, and increased leverage levels in the post-SOX period. These results are … sources of financing toward debt and away from equity. We use the Sarbanes-Oxley Act of 2002 (SOX) as a setting to provide …

We examine the nature of impact of national culture on bank leverage using a broad sample of 1,701 banks from 79 … individualism culture dimensions hold more leverage while, banks in countries with high uncertainty-avoidance, power distance, and … long-term orientation have less leverage. Notably, bank size substantially moderates these cultural effects. Our findings …

, whereas greater use of debt leads to a higher probability of inefficient bank liquidation. The bank's privately … leverage relative to the socially optimal level, providing a rationale for bank capital regulation. While a blanket regulatory …

have higher credit availability and therefore higher debt-equity ratios. This study sheds light on government's impact on …

2003 to 2013. We show that when the degree of economic policy uncertainty increases, firms tend to lower their leverage …