Publication: The Impact Of Ownership Structure On Financing Constraints Of Firms In China: The Moderating Effect Of Financial Inclusion
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Date
2025-09
Authors
Deng, Boxin
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Abstract
Financing constraints, representing the financial obstacles faced by firms in obtaining sufficient external capital at a reasonable cost, are a critical impediment to corporate growth in China. While this is a known challenge, the interactive effect between firm-level ownership structures (institutional, state, and foreign) and the macro-level development of financial inclusion has not been adequately investigated. This study aims to fill this gap by examining how ownership structure affects financing constraints and, crucially, the moderating role of financial inclusion in this relationship.
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Keywords
Impact Of Ownership Structure On Financing Constraints , Firms In China , Moderating Effect Of Financial Inclusion