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Article: Inside the black box: Bank credit allocation in China's private sector

TitleInside the black box: Bank credit allocation in China's private sector
Authors
Issue Date2009
PublisherElsevier. The Journal's web site is located at http://www.sciencedirect.com/science/journal/03784266
Citation
Journal of Banking and Finance, 2009, v. 33 n. 6, p. 1144-1155 How to Cite?
AbstractThis study examines how the Chinese state-owned banks allocate loans to private firms. We find that the banks extend loans to financially healthier and better-governed firms, which implies that the banks use commercial judgments in this segment of the market. We also find that having the state as a minority owner helps firms obtain bank loans and this suggests that political connections play a role in gaining access to bank finance. In addition, we find that commercial judgments are important determinants of the lending decisions for manufacturing firms, large firms, and firms located in regions with a more developed banking sector; political connections are important for firms in service industries, large firms, and firms located in areas with a less developed banking sector.
Persistent Identifierhttp://hdl.handle.net/10722/192329
ISSN
2015 Impact Factor: 1.485
2015 SCImago Journal Rankings: 1.264
SSRN
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorFirth, Men_US
dc.contributor.authorLin, Cen_US
dc.contributor.authorLiu, Pen_US
dc.contributor.authorWong, SMLen_US
dc.date.accessioned2013-10-24T01:49:57Z-
dc.date.available2013-10-24T01:49:57Z-
dc.date.issued2009en_US
dc.identifier.citationJournal of Banking and Finance, 2009, v. 33 n. 6, p. 1144-1155en_US
dc.identifier.issn0378-4266en_US
dc.identifier.urihttp://hdl.handle.net/10722/192329-
dc.description.abstractThis study examines how the Chinese state-owned banks allocate loans to private firms. We find that the banks extend loans to financially healthier and better-governed firms, which implies that the banks use commercial judgments in this segment of the market. We also find that having the state as a minority owner helps firms obtain bank loans and this suggests that political connections play a role in gaining access to bank finance. In addition, we find that commercial judgments are important determinants of the lending decisions for manufacturing firms, large firms, and firms located in regions with a more developed banking sector; political connections are important for firms in service industries, large firms, and firms located in areas with a less developed banking sector.-
dc.languageengen_US
dc.publisherElsevier. The Journal's web site is located at http://www.sciencedirect.com/science/journal/03784266-
dc.relation.ispartofJournal of Banking and Financeen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsNOTICE: this is the author’s version of a work that was accepted for publication in <Journal of Banking and Finance>. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in PUBLICATION, [VOL 33, ISSUE 6, (2009)] DOI 10.1016/j.jbankfin.2008.12.00810.1016/j.jbankfin.2008.12.008-
dc.titleInside the black box: Bank credit allocation in China's private sectoren_US
dc.typeArticleen_US
dc.description.naturepreprint-
dc.identifier.doi10.1016/j.jbankfin.2008.12.008en_US
dc.identifier.scopuseid_2-s2.0-62749104353en_US
dc.identifier.volume33en_US
dc.identifier.issue6en_US
dc.identifier.spage1144en_US
dc.identifier.epage1155en_US
dc.identifier.isiWOS:000265309800016-
dc.identifier.ssrn1544872-

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