Rigid debt maturity structure and enterprise innovation

Yun Hao and Wenzhao Wu

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

Abstract: This paper selects Chinese A-share listed companies from 2011 to 2021 as a research sample to explore the relationship between rigid debt maturity structure and corporate innovation. It is found that rigid debt maturity structure has a positive impact on corporate innovation; private firms are more significantly promoted by long-maturity, rigid debt maturity structure than state-owned enterprises; the higher the rigid debt dependence, the more the firms' capital needs for technological innovation depend on rigid debt.

Keywords: Rigid debt; Maturity structure; Innovation performance (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012953

DOI: 10.1016/j.frl.2023.104923

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