Rajan and Zingales (1995) find that tangibility, growth opportunity, size and performance are the four common determinants to explain capital structure across G-7 countries. In this study, we consider a sample of 590 firms from Argentina, Chile, Mexico, Peru and United States of America, to...

We examine how changes in property rights security impact firm capital structure decisions by exploiting a natural experiment, the enactment of China's Property Rights Law in 2007 (the Law). Using a large dataset of non-listed firms, we document a significant overall decrease in leverage after...