Mixed-ownership reform and deleveraging of state-owned enterprises: Degree and methods
نویسندگان
چکیده
Based on data of state-owned enterprises listed the Shanghai and Shenzhen Stock Exchange from 2007 to 2018, this study examines how mixed-ownership reform affects deleveraging behaviour (hereafter, SOEs). We find that higher degree equity balance between shareholders non-state-owned SOEs, more inclined they are choose deleverage. As for methods deleveraging, retained earnings current debt repayment in process. Furthermore, effect is pronounced SOEs with excess leverage, low marketisation regions both centre local SOEs. also increases SOEs’ operating performance. The results suggest can efficiently promote positive ways.
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ژورنال
عنوان ژورنال: China journal of accounting studies
سال: 2022
ISSN: ['2169-7213', '2169-7221']
DOI: https://doi.org/10.1080/21697213.2022.2082723