Policy-induced deleveraging and corporate financial resilience: a DuPont analysis of China Vanke, 2019-2025
The regulatory structure of the Three Red Lines in China has been implemented to curb the level of leverage of the property sector; however, regulatory leverage reduction does not always entail increased corporate financial resilience. It is a study of China Vanke Co., Ltd. between 2019 and 2025 based on a modified DuP...