HIGHLIGHTS
- What: Regarding the research on the relationship between capital structure and company operating performance, scholars mainly focus on the two perspectives of equity structure and debt structure, and the results are still different. Ltd, which announced and completed cross-border M and amp;A activities in 2017, as the research objects, the authors analyzes the sustained changes of their capital structure and operating performance in the five years after completing the cross-border M and amp;A to explore the impact of the adjustments of the capital structure of cross-border M and amp;A on the . . .

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