کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7356766 | 1478289 | 2018 | 42 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
To what extent did the economic stimulus package influence bank lending and corporate investment decisions? Evidence from China
ترجمه فارسی عنوان
تا چه حد بسته ی محرک اقتصادی تأثیرات وام های بانکی و تصمیمات سرمایه گذاری شرکت ها را تحت تاثیر قرار داده است؟ شواهد از چین
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
Using a panel of Chinese firms over the period 2003-2013, we show that, from the supply-side perspective, as a result of the implementation of the economic stimulus package in China, state-owned enterprises (SOEs) received more bank loans and invested more than non-SOEs. We further find that after the implementation of the economic stimulus package, bank lending became less responsive to firm profitability, and firm investments became less responsive to investment opportunities for SOEs, non-SOEs from favoured industries and regions, and non-SOEs with political connections. Overall, our findings support the view that the stimulus package and the associated increase in bank loan supply in China resulted in more resources being allocated to SOEs.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 86, January 2018, Pages 177-193
Journal: Journal of Banking & Finance - Volume 86, January 2018, Pages 177-193
نویسندگان
Qigui Liu, Xiaofei Pan, Gary Gang Tian,