Boubakri, Narjess; Chen, Ruiyuan (Ryan); El Ghoul, Sadok; … - 2021
We provide the first firm-level evidence of the relation between state ownership and debt structure. Using an … international sample of newly privatized firms (NPFs) from 76 countries over the 1998–2017 period, we find that state ownership is … shows that our main evidence is consistent with the soft budget constraint, political, and social views of state ownership …