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

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.