Evidence item

The passage directly reports a 7.5% decrease in non-optimal investment efficiency after reform. DIRECT_TEXT

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 15658

Source: From courts to capital: how bankruptcy judicial reform affects corporate investment efficiency · locator {} · excerpt hash sha256:91f58b6c81aa7e3073abad62eab9fda89e5e828b0fd6ad92566e6ab720c08e05

We find that after the reform, corporate investment efficiency significantly improved, with non-optimal investment efficiency decreasing by 7.5%, primarily due to a 9.7% reduction in underinvestment.