Sheng, Dachen; Montgomery, Heather A. - In: International Journal of Financial Studies : open … 11 (2023) 4, pp. 1-19
This paper examines the determinants of bond issuance in the Chinese market and the influence of capital structure … Chinese market, in particular the involvement of the financial authority permission process during bond issuance, enhance the … of both bond and nonbond direct finance. We interpret this as bond issuance approval serving as a signal to markets of an …
