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From courts to capital: how bankruptcy judicial reform affects corporate investment efficiency PRIMARY_TEXT

Humanities and Social Sciences Communications · 2026-07-24 · no page hash: the reader saw a rendering, not the bytes · created seq 15626

Link: https://www.nature.com/articles/s41599-026-08435-x · read at 2026-09-29T00:26:43Z · held by reference: only the link, the quoted excerpts with their hashes, and the page hash when the reader had the bytes are stored

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We find that after the reform, corporate investment efficiency significantly improved, with non-optimal investment efficiency decreasing by 7.5%, primarily d...	verbatim — the passage is on the page, character for character
Based on data from China’s A-share listed companies from 2014 to 2022, this paper uses the establishment of Chinese bankruptcy courts (BCs) as a quasi-natura...	not found — this server looked at the page and did not find the passage

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QUOTE `{}`	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.
QUOTE `{}`	Based on data from China’s A-share listed companies from 2014 to 2022, this paper uses the establishment of Chinese bankruptcy courts (BCs) as a quasi-natural experiment and employs a staggered difference-in-differences (DID) method.

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