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Do state-affiliated corporate shareholders matter for asset-liability maturity mismatch?

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  • Li, WeiWei
  • Huang, Ruilei
  • Gan, Zhongxin
  • Jiang, Zhiyan

Abstract

Using a sample of China's listed companies spanning from 2007 to 2021, our study reveals that state shareholders have a dampening effect on the asset-liability maturity mismatch of corporations. In addition, we observe that the impact of state shareholders on the asset-liability maturity mismatch is more pronounced for firms that are non-state-owned and have faster growth. Mechanism test indicates that state shareholders can mitigate asset-liability maturity mismatch by alleviating financing constraints and appointing directors.

Suggested Citation

  • Li, WeiWei & Huang, Ruilei & Gan, Zhongxin & Jiang, Zhiyan, 2024. "Do state-affiliated corporate shareholders matter for asset-liability maturity mismatch?," Finance Research Letters, Elsevier, vol. 60(C).
    • Handle: RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012576
    DOI: 10.1016/j.frl.2023.104885
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    Cited by:

    1. Gao, Xing & Lai, Xiaobing & Huang, Ting & Lai, Huisu, 2024. "Does social dishonesty accelerate corporate maturity mismatch of investment and financing?," Finance Research Letters, Elsevier, vol. 64(C).
    2. Tang, Chun & Lai, Xiaobing & Liu, Xiaoxing, 2024. "Does CEO's disaster experience affect corporate maturity mismatch?—Evidence from the Great Famine in China," Finance Research Letters, Elsevier, vol. 64(C).
    3. Li, WeiWei & Huang, Chia-Hsing, 2024. "Multiple large shareholders and asset-liability maturity mismatches," Finance Research Letters, Elsevier, vol. 65(C).

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