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bank lending is consistently associated with positive long-term outcomes-newly public firms that borrow experience …
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-SOEs. Lastly, we show that the reform of China's banking system in 2003 has not strengthened the negative relationship between bank …We study the effect of bank loans on Chinese publicly listed firms' investment decisions based on the underinvestment … and overinvestment theories of leverage. Evidence from China is of particular importance because China is the world …
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