{"id":"W4414054162","doi":"10.1016/j.irfa.2025.104617","title":"Local government implicit debt and corporate bankruptcy: Evidence from China","year":2025,"lang":"en","type":"article","venue":"International Review of Financial Analysis","topic":"Corporate Finance and Governance","field":"Business, Management and Accounting","cited_by":4,"is_retracted":false,"has_abstract":false,"ca_institutions":"University of Alberta","funders":"Graduate Scientific Research and Innovation Foundation of Chongqing; National Natural Science Foundation of China","keywords":"Bankruptcy; Endogeneity; Local government; Debt; Public finance; Debt-to-GDP ratio; Government (linguistics); Economic interventionism","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.0011657,0.0003304758,0.0004634316,0.00255037,0.001108511,0.00130831,0.0006617605,0.0004566686,0.002465371],"category_scores_gemma":[0.002691961,0.0002241245,0.0004477561,0.005629766,0.00136915,0.0006003733,0.0008783286,0.0005639131,0.0002016055],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.001930325,"about_ca_system_score_gemma":0.002777206,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.1786203,"about_ca_topic_score_gemma":0.2489379,"domain_scores_codex":[0.9995541,0.00009335695,0.00005476456,0.00006997497,0.0001059604,0.0001218128],"domain_scores_gemma":[0.994013,0.001460662,0.00231298,0.000329182,0.001076372,0.0008077241],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"observational","study_design_gemma":"observational","study_design_scores_codex":[0.0001210114,0.00007998313,0.9924564,0.00006501434,0.000103214,0.0002436577,0.0006181881,0.0001467245,0.000117533,0.0003544296,0.000338324,0.005355371],"study_design_scores_gemma":[0.00002051219,0.0000443826,0.9980006,0.00002333506,0.0001265814,0.00005926834,0.0007915047,0.0002306787,0.00009015486,0.0001103095,0.0004958536,0.000006871953],"study_design_candidate":"observational","study_design_consensus":"observational","genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.9980539,0.0008281817,0.00002515637,0.0001495093,0.000002775922,0.000004210138,0.000214735,0.000001620658,0.0007201051],"genre_scores_gemma":[0.9983719,0.0008300079,0.00001783183,0.00004454846,0.00001010253,0.000003243181,0.0003655869,9.92521e-7,0.0003557313],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.1786203,"threshold_uncertainty_score":0.3551612,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.01378448137277951,"score_gpt":0.2476510762842632,"score_spread":0.2338665949114837,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}