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- W4360840129 endingPage "102016" @default.
- W4360840129 startingPage "102016" @default.
- W4360840129 abstract "This paper examines whether and how digital transformation impacts capital structure adjustment speed. We find that digital transformation speeds up capital structure adjustment. Furthermore, digital transformation can improve the probability of leverage upward (downward) adjustment by issuing debts and dividends (issuing equities and repaying debts). Channel tests show that reducing information asymmetry, mitigating agency problems, and alleviating financial constraints are possible mechanisms. Cross-sectional tests show that the findings are more pronounced for firms in highly competitive industries, located in provinces with high level of market development, and in years of high economic policy uncertainty." @default.
- W4360840129 created "2023-03-25" @default.
- W4360840129 creator A5001630552 @default.
- W4360840129 creator A5026299352 @default.
- W4360840129 creator A5062755510 @default.
- W4360840129 creator A5091259352 @default.
- W4360840129 date "2023-06-01" @default.
- W4360840129 modified "2023-10-14" @default.
- W4360840129 title "Does digital transformation speed up dynamic capital structure adjustment? Evidence from China" @default.
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- W4360840129 doi "https://doi.org/10.1016/j.pacfin.2023.102016" @default.
- W4360840129 hasPublicationYear "2023" @default.
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