Franklin

An Attempt to Profile the Finances of China's Enterprise Sector [electronic resource] Karacadag, Cem.

Author/Creator:
Karacadag, Cem.
Publication:
Washington, D.C. : International Monetary Fund, 2001.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 01/182.
IMF Working Papers; Working Paper No. 01/182
Format/Description:
Government document
Book
1 online resource (24 p.)
Local subjects:
Asset management.
Asset management companies.
Business environment.
Corporate accounting.
Corporate finance.
Corporate finances.
Debt restructuring.
Enterprise accounting.
Enterprise balance sheets.
Enterprise budget constraints.
Enterprise finances.
Enterprise management.
Enterprise profitability.
Enterprise sector.
Equity ratio.
Equity ratios.
Equity swaps.
Event Studies.
Financial institutions.
Foreign companies.
General.
Industrial enterprise.
Industrial enterprises.
Information and Market Efficiency.
Listed companies.
Net fixed assets.
Private enterprises.
Small enterprises.
Social safety net.
Social welfare.
State banks.
State enterprise.
State ownership.
State-owned enterprises.
China, People's Republic of.
Saint Lucia.
Summary:
This paper examines the leverage, efficiency, and debt-repayment capacity of the Chinese enterprise sector using aggregate and firm level data. The cash coverage of interest expense, in particular, is used as a bridge between enterprise finances and banks'' asset quality in order to develop insights on banking soundness. The interest coverage analysis corroborates the high level of nonperforming loans in the financial system. This underscores the urgency of hardening budget constraints on state-owned enterprises and stemming the flow of new bad loans by accelerating ongoing structural reforms.
Notes:
Description based on print version record.
Contributor:
Heytens, Paul J.
Karacadag, Cem.
Other format:
Print Version:
ISBN:
1451859260:
9781451859263
ISSN:
1018-5941
Publisher Number:
10.5089/9781451859263.001
Access Restriction:
Restricted for use by site license.
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