We first derive a theoretical model to predict that the relation between nonperforming loan ratios and government shareholdings can be downward-sloping, upward-sloping, U-shaped, and inversely U-shaped. An increase in the government's shareholding facilitates political lobbying. On the other...

Chapter 1. Interest Burden and Debt Sustainability, by Zhang Xiaojing et al -- Chapter 2. The Sophistication of China’s Financial System, by Fan Lijun & Yin Jianfeng -- Chapter 3 Corporate Leveraging from the Perspective of Return on Assets--Two-Level Deviations of Macro and Micro Leverage...