Corporate Leverage Ratio and Total Factor Productivity: Promotion or Inhibition? Empirical Evidence of the Role of Shareholding Concentration
In the context of China’s high-quality economic development, enhancing Total Factor Productivity (TFP) is of great importance. Employing data from 799 non-financial companies listed on the Shanghai and Shenzhen main boards from 2007 to 2024, this study investigates the impact of corporate leverage ratio on TFP and its...