Excessive External Borrowing in China: Evidence from a Nonparametric Threshold Regression Model with Fixed Effects
We investigated the excessive external financing problem in Chinese industrial firms by examining the potential threshold effect of the leverage ratio on the total factor productivity of firms. We hypothesized the existence of a turning point in leverage ratio at which the productivity of these firm...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2024-11-01
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| Series: | Mathematics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7390/12/23/3683 |
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