Ownership and Cost of Debt

This study employs an unbiased dual machine learning approach to examine the correlation between corporate ownership and the cost of corporate debt. The findings reveal that private firms incur greater costs of debt. Additionally, during periods of monetary policy tightening, ownership discrimination becomes a more significant concern, and low-credit private firms experience more discrimination than high-credit ones. These results establish a solid theoretical foundation for enhancing credit policies and expanding financial assistance to distressed private firms