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

WeiWei Li, Ruilei Huang, Zhongxin Gan and Zhiyan Jiang

Finance Research Letters, 2024, vol. 60, issue C

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.

Keywords: State shareholders; Asset-liability maturity mismatch (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012576

DOI: 10.1016/j.frl.2023.104885

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