Review Article
Research of Microcosmic Affection Factors on Capital Misallocation: A Case of Chinese Listed Companies
Table 3
Sensitivity analysis table of capital misallocation ().
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Note: in the calculation, assume that the higher the cost of capital is, accordingly the lower the liquidity ratio is. For example, when cost of capital changes from 0.12 to 0.11, liquidity ratios change from 0.5 to 0.55. Numerous domestic and international studies assume the cost of capital is 10%, so we assume it starts from 0.1. |