Background: China's long term Gini coefficient is higher than the international warning line and the urban-rural income gap is still serious, meanwhile the transfer payments targeted adjusting the income distribution are increasing in recent years, which indicate that we should examine the...

Emerging economies provide interesting scenarios for examining how institutional context influences the financing behavior of firms. In this study, we examine the capital structure of Chinese listed firms following the Split-Share Structure Reform of 2005. This reform allowed a reduction of...