id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fbem-28274	Wang, Shiwen	High Government Leverage and High Corporate Leverage: Crowding-in or Crowding-out	2024	9	.pdf	application/pdf	7334	334	51	In addition, according to the previous theoretical analysis, local government debt will affect corporate government debt through the balance of cash equivalents at the end of the period cash thus affecting corporate leverage, corporate funds are represented by cash, the level of cash holdings is equal to money funds/total assets, the greater the amount of cash, indicating that the internal funds of the firm are sufficient and more secure debt service (Xiao et al., 2022). China Abstract: This paper uses panel data of non-financial listed companies between 2012 and 2018 to empirically analyze the impact of local government debt on corporate leverage.	cache/fbem-28274.pdf	txt/fbem-28274.txt