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Academic Journal of Business & Management, 2025, 7(3); doi: 10.25236/AJBM.2025.070309.

Patient Capital and Maturity Mismatch of Investment and Financing: Synergistic Effect of Financial Slack

Author(s)

Ziyuan Wang, Tianqing Li, Xueying Meng

Corresponding Author:
Ziyuan Wang
Affiliation(s)

Business School, Shandong University of Technology, Zibo, 255000, China

Abstract

Analyzing panel data from China's A-share listed enterprises (2007-2023), this paper examines how patient capital influences maturity mismatch of investment and financing of enterprises, while investigating its mechanism. The results indicate that patient capital significantly mitigates the severity of maturity mismatch of enterprises. Furthermore, financial slack demonstrates a synergistic interplay with patient capital, amplifying its mitigating effect on such mismatch. These findings provide empirical evidence for the economic consequences of patient capital enrichment, and also provide a new solution to the problem of maturity mismatch of investment and financing of enterprises.

Keywords

Patient Capital; Maturity Mismatch of Investment and Financing; Financial Slack; Capital Market

Cite This Paper

Ziyuan Wang, Tianqing Li, Xueying Meng. Patient Capital and Maturity Mismatch of Investment and Financing: Synergistic Effect of Financial Slack. Academic Journal of Business & Management(2025), Vol. 7, Issue 3: 60-67. https://doi.org/10.25236/AJBM.2025.070309.

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