Firms in many developing economies have achieved their goals over the past decades, especially private firms which are often being discriminated against having bank loans. The firms in China provide an interesting case to study. As China is now the second
largest country, the financial structure remains undeveloped across regions. Firms differ in their financing patterns across provinces. Financial issues related to China are interesting and deserve attention, because they exemplify many intriguing characteristics of an emerging financial market which differs from the Western-developed financial markets (Chan, Fung, & Thapa, 2007). On the other hand, in case of financial distress, the state owned enterprise (SOE) in China may be bailed out by the government instead of liquidation (Chow, Song, & Wong, 2010).
Firms in many developing economies have achieved their goals over the past decades, especially private firms which are often being discriminated against having bank loans. The firms in China provide an interesting case to study. As China is now the secondlargest country, the financial structure remains undeveloped across regions. Firms differ in their financing patterns across provinces. Financial issues related to China are interesting and deserve attention, because they exemplify many intriguing characteristics of an emerging financial market which differs from the Western-developed financial markets (Chan, Fung, & Thapa, 2007). On the other hand, in case of financial distress, the state owned enterprise (SOE) in China may be bailed out by the government instead of liquidation (Chow, Song, & Wong, 2010).
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