Business, Management and Accounting
8 years ago

Chinese companies' debt structure reveals risky short-term focus, impacting financial stability.

Journal of Shanxi Finance and Economics University
Debt Structure of Listed Companies and Their Industrial Features: Some Empirical Evidences
Zhao Dongqing

Paper Summary

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The debt structure of Chinese listed companies from 1991 to 2003 showed an increase in current and total debt ratios after 1997. Compared to other countries, Chinese companies have low gross debt ratios, with more short-term debt and less long-term debt due to an underdeveloped corporate debt market. Industry factors significantly influence leverage ratios, as shown by nonparametric variance analysis and OLS analysis.