Zhaoxia Xu - Latest

• Complex Ownership and Capital Structure

  Staff Working Paper 2009-12 Teodora Paligorova, Zhaoxia Xu

  This paper investigates the impact of pyramid ownership structure and multiple controlling shareholders on firm leverage. Pyramids, having at least one controlling shareholder and a subsidiary, rely significantly more on debt financing than non-pyramid firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G31, G32

• The Impact of Market Timing on Canadian and U.S. Firms' Capital Structure

  Staff Working Paper 2009-1 Zhaoxia Xu

  This paper studies the impact of market timing on Canadian firms' capital structure and makes a comparison with U.S. firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G32

• Do Firms Adjust Toward a Target Leverage Level?

  Staff Working Paper 2007-50 Zhaoxia Xu

  This paper studies capital structure adjustment mechanisms of firms that experience substantial changes in leverage.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G32