The Role of Internally Financed Capex in Rising Chinese Corporate Debts

This paper aims to identify potential drivers behind China’s rising corporate leverage, using an international aggregate panel dataset. We find strong evidence of significantly negative effects of the internally financed share of capital expenditure on the change of corporate debt/GDP: a rise in int...

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Veröffentlicht in:	Comparative economic studies 2019-09, Vol.61 (3), p.413-442
Hauptverfasser:	Ma, Guonan, Chen, Jinzhao
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital expenditures Capital formation Corporate debt Debt Economic factors Economic models Economics Economics and Finance Expenditures Humanities and Social Sciences International Economics Investments Leverage Political Economy/Economic Systems Quantitative Finance
Online-Zugang:	Volltext
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