메뉴 건너뛰기




Volumn 23, Issue 3, 2013, Pages 146-165

Bank lending incentives and firm investment decisions in China

Author keywords

Bank lending incentive; Investment efficiency

Indexed keywords


EID: 84876727715     PISSN: 1042444X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.mulfin.2013.03.004     Document Type: Article
Times cited : (40)

References (40)
  • 1
    • 33748917093 scopus 로고    scopus 로고
    • Public policy, political connections, and effective tax rates: longitudinal evidence from Malaysia
    • Adhikari A., Derashid C., Zhang H. Public policy, political connections, and effective tax rates: longitudinal evidence from Malaysia. J. Account. Public Policy 2006, 25:574-595.
    • (2006) J. Account. Public Policy , vol.25 , pp. 574-595
    • Adhikari, A.1    Derashid, C.2    Zhang, H.3
  • 2
    • 20444481384 scopus 로고    scopus 로고
    • Law, finance, and economic growth in China
    • Allen F., Qian J., Qian M. Law, finance, and economic growth in China. J. Financial Econ. 2007, 77:57-116.
    • (2007) J. Financial Econ. , vol.77 , pp. 57-116
    • Allen, F.1    Qian, J.2    Qian, M.3
  • 3
    • 10344256238 scopus 로고    scopus 로고
    • Corporate governance and market valuation in China
    • Bai C.E., Liu Q., Lu J., Song F.M., Zhang J.X. Corporate governance and market valuation in China. J. Comp. Econ. 2004, 32:599-616.
    • (2004) J. Comp. Econ. , vol.32 , pp. 599-616
    • Bai, C.E.1    Liu, Q.2    Lu, J.3    Song, F.M.4    Zhang, J.X.5
  • 4
    • 61549136700 scopus 로고    scopus 로고
    • Corruption in bank lending to firms: cross country micro evidence on the beneficial role of competition and information sharing
    • Barth J.R., Lin C., Lin P., Song F.M. Corruption in bank lending to firms: cross country micro evidence on the beneficial role of competition and information sharing. J. Financial Econ. 2009, 91:361-388.
    • (2009) J. Financial Econ. , vol.91 , pp. 361-388
    • Barth, J.R.1    Lin, C.2    Lin, P.3    Song, F.M.4
  • 5
    • 56549092299 scopus 로고    scopus 로고
    • Bank ownership and efficiency in China: what will happen in the world's largest nation?
    • Berger A.N., Hasan I., Zhou M. Bank ownership and efficiency in China: what will happen in the world's largest nation?. J. Bank. Finance 2009, 33:113-130.
    • (2009) J. Bank. Finance , vol.33 , pp. 113-130
    • Berger, A.N.1    Hasan, I.2    Zhou, M.3
  • 6
    • 33947274058 scopus 로고    scopus 로고
    • Banking deregulation and industry structure: evidence from the French banking reforms of 1985
    • Bertrand M., Schoar A., Thesmar D. Banking deregulation and industry structure: evidence from the French banking reforms of 1985. J. Finance 2007, 62:97-628.
    • (2007) J. Finance , vol.62 , pp. 97-628
    • Bertrand, M.1    Schoar, A.2    Thesmar, D.3
  • 7
    • 56349121488 scopus 로고    scopus 로고
    • Political connections of newly privatized firms
    • Boubakri N., Cosset J., Saffar W. Political connections of newly privatized firms. J. Corp. Finance 2008, 14:654-673.
    • (2008) J. Corp. Finance , vol.14 , pp. 654-673
    • Boubakri, N.1    Cosset, J.2    Saffar, W.3
  • 8
    • 79952597709 scopus 로고    scopus 로고
    • Capital allocation and timely accounting recognition of economic losses
    • Bushman M.R., Piotroski J.D., Smith A.J. Capital allocation and timely accounting recognition of economic losses. J. Business Finance Account. 2011, 38(1/2):1-33.
    • (2011) J. Business Finance Account. , vol.38 , Issue.1-2 , pp. 1-33
    • Bushman, M.R.1    Piotroski, J.D.2    Smith, A.J.3
  • 10
    • 4043078960 scopus 로고    scopus 로고
    • Corporate Governance in Asia: A Survey
    • Claessens S., Fan J. Corporate Governance in Asia: A Survey. International Rev. Finance 2002, 3(2):71-103.
    • (2002) International Rev. Finance , vol.3 , Issue.2 , pp. 71-103
    • Claessens, S.1    Fan, J.2
  • 11
    • 46049105914 scopus 로고    scopus 로고
    • Political connections and preferential access to finance: the role of campaign contributions
    • Claessens S., Feijen E., Laeven L. Political connections and preferential access to finance: the role of campaign contributions. J. Financial Econ. 2008, 88:554-580.
    • (2008) J. Financial Econ. , vol.88 , pp. 554-580
    • Claessens, S.1    Feijen, E.2    Laeven, L.3
  • 12
    • 20444461207 scopus 로고    scopus 로고
    • Institutions, ownership and finance: the determinants of profit reinvestment among Chinese firms
    • Cull R., Xu L.C. Institutions, ownership and finance: the determinants of profit reinvestment among Chinese firms. J. Financial Econ. 2005, 77:117-146.
    • (2005) J. Financial Econ. , vol.77 , pp. 117-146
    • Cull, R.1    Xu, L.C.2
  • 13
    • 0004660431 scopus 로고    scopus 로고
    • Bureaucrats, state banks, and the efficiency of credit allocation: the experience of Chinese state-owned enterprises
    • Cull R., Xu L.C. Bureaucrats, state banks, and the efficiency of credit allocation: the experience of Chinese state-owned enterprises. J. Comp. Econ. 2000, 28:1-31.
    • (2000) J. Comp. Econ. , vol.28 , pp. 1-31
    • Cull, R.1    Xu, L.C.2
  • 14
    • 47749120440 scopus 로고
    • Financial intermediation and delegated monitoring
    • Diamond D.W. Financial intermediation and delegated monitoring. Rev. Econ. Stud. 1984, 51:393-414.
    • (1984) Rev. Econ. Stud. , vol.51 , pp. 393-414
    • Diamond, D.W.1
  • 15
    • 84935413182 scopus 로고
    • Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt
    • Diamond D.W. Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt. J. Political Econ. 1991, 99:689-721.
    • (1991) J. Political Econ. , vol.99 , pp. 689-721
    • Diamond, D.W.1
  • 16
    • 22144475794 scopus 로고    scopus 로고
    • Politicians and banks: political influences on government-owned banks in emerging markets
    • Dinc I.S. Politicians and banks: political influences on government-owned banks in emerging markets. J. Financial Econ. 2005, 77:453-479.
    • (2005) J. Financial Econ. , vol.77 , pp. 453-479
    • Dinc, I.S.1
  • 17
    • 33645727687 scopus 로고    scopus 로고
    • Politically connected firms
    • Faccio M. Politically connected firms. Am. Econ. Rev. 2006, 96:369-386.
    • (2006) Am. Econ. Rev. , vol.96 , pp. 369-386
    • Faccio, M.1
  • 18
    • 74849136434 scopus 로고    scopus 로고
    • Sudden deaths: taking stock of geographic ties
    • Faccio M., Parsley D.C. Sudden deaths: taking stock of geographic ties. J. Financial Quant. Anal. 2009, 44:683-718.
    • (2009) J. Financial Quant. Anal. , vol.44 , pp. 683-718
    • Faccio, M.1    Parsley, D.C.2
  • 19
    • 33749245823 scopus 로고    scopus 로고
    • Political connections and corporate bailout
    • Faccio M., Masulis R.W., McConnell J.J. Political connections and corporate bailout. J. Finance 2006, 61:2597-2635.
    • (2006) J. Finance , vol.61 , pp. 2597-2635
    • Faccio, M.1    Masulis, R.W.2    McConnell, J.J.3
  • 21
    • 79960315274 scopus 로고    scopus 로고
    • Unpublished Working Paper. The Chinese University of Hong Kong, Shanghai University of Finance & Economics, Harvard Business School, Bentley College
    • Fan, J.P.H., Huang, J., Oberholzer-Gee, F., Zhao, M., 2007. Corporate Diversification in China: Causes and Consequences, Unpublished Working Paper. The Chinese University of Hong Kong, Shanghai University of Finance & Economics, Harvard Business School, Bentley College.
    • (2007) Corporate Diversification in China: Causes and Consequences
    • Fan, J.P.H.1    Huang, J.2    Oberholzer-Gee, F.3    Zhao, M.4
  • 22
    • 50849093538 scopus 로고    scopus 로고
    • Public governance and corporate finance: evidence from corruption cases
    • Fan J.P.H., Rui M.R., Zhao M. Public governance and corporate finance: evidence from corruption cases. J. Comp. Econ. 2008, 36:343-364.
    • (2008) J. Comp. Econ. , vol.36 , pp. 343-364
    • Fan, J.P.H.1    Rui, M.R.2    Zhao, M.3
  • 23
    • 34247262521 scopus 로고    scopus 로고
    • Politically connected CEOs, corporate governance and post-IPO performance of China's newly partially privatized firms
    • Fan J.P.H., Wong T.J., Zhang T. Politically connected CEOs, corporate governance and post-IPO performance of China's newly partially privatized firms. J. Financial Econ. 2007, 84:330-357.
    • (2007) J. Financial Econ. , vol.84 , pp. 330-357
    • Fan, J.P.H.1    Wong, T.J.2    Zhang, T.3
  • 24
    • 56249143139 scopus 로고    scopus 로고
    • Are new tigers supplanting old mammoths in China's banking system? Evidence from a sample of city commercial banks
    • Ferri G. Are new tigers supplanting old mammoths in China's banking system? Evidence from a sample of city commercial banks. J. Bank. Finance 2009, 33:131-140.
    • (2009) J. Bank. Finance , vol.33 , pp. 131-140
    • Ferri, G.1
  • 25
    • 61849083587 scopus 로고    scopus 로고
    • The timeliness and consequences of disseminating public information by regulators
    • Firth M., Rui O.M., Wu X. The timeliness and consequences of disseminating public information by regulators. J. Account. Public Policy 2009, 28(2):118-132.
    • (2009) J. Account. Public Policy , vol.28 , Issue.2 , pp. 118-132
    • Firth, M.1    Rui, O.M.2    Wu, X.3
  • 26
    • 0001609111 scopus 로고    scopus 로고
    • Estimating the value of political connections
    • Fisman R. Estimating the value of political connections. Am. Econ. Rev. 2001, 91:1095-1102.
    • (2001) Am. Econ. Rev. , vol.91 , pp. 1095-1102
    • Fisman, R.1
  • 27
    • 67649565535 scopus 로고    scopus 로고
    • Do politically connected boards affect firm value?
    • Goldman E., Rocholl J., So J. Do politically connected boards affect firm value?. Rev. Financial Stud. 2009, 22:2331-2360.
    • (2009) Rev. Financial Stud. , vol.22 , pp. 2331-2360
    • Goldman, E.1    Rocholl, J.2    So, J.3
  • 28
    • 0001066475 scopus 로고
    • Agency costs of free cash flow, corporate finance, and takeovers
    • Jensen C. Agency costs of free cash flow, corporate finance, and takeovers. Am. Econ. Rev. Papers Proc. 1986, 76:323-329.
    • (1986) Am. Econ. Rev. Papers Proc. , vol.76 , pp. 323-329
    • Jensen, C.1
  • 29
    • 0037292733 scopus 로고    scopus 로고
    • Who gains from capital controls? Evidence from Malaysia
    • Johnson S., Mitton T. Who gains from capital controls? Evidence from Malaysia. J. Financial Econ. 2003, 67:351-382.
    • (2003) J. Financial Econ. , vol.67 , pp. 351-382
    • Johnson, S.1    Mitton, T.2
  • 30
    • 43049156147 scopus 로고    scopus 로고
    • Bank incentives and suboptimal lending decisions: evidence from the valuation effect of bank loan announcements in Japan
    • Kang J.K., Liu W.L. Bank incentives and suboptimal lending decisions: evidence from the valuation effect of bank loan announcements in Japan. J. Bank. Finance 2008, 32:915-929.
    • (2008) J. Bank. Finance , vol.32 , pp. 915-929
    • Kang, J.K.1    Liu, W.L.2
  • 31
    • 31444435396 scopus 로고    scopus 로고
    • Do lenders favor politically connected firms? Rent provision in an emerging financial market
    • Khawaja A.L., Mian A. Do lenders favor politically connected firms? Rent provision in an emerging financial market. Quart. J. Econ. 2005, 120:1371-1411.
    • (2005) Quart. J. Econ. , vol.120 , pp. 1371-1411
    • Khawaja, A.L.1    Mian, A.2
  • 33
    • 48049119272 scopus 로고    scopus 로고
    • Political connections, financing and firm performance: evidence from Chinese private firms
    • Li H., Meng L., Wang Q., Zhou L.A. Political connections, financing and firm performance: evidence from Chinese private firms. J. Dev. Econ. 2008, 87:283-299.
    • (2008) J. Dev. Econ. , vol.87 , pp. 283-299
    • Li, H.1    Meng, L.2    Wang, Q.3    Zhou, L.A.4
  • 34
    • 56249099069 scopus 로고    scopus 로고
    • Bank ownership reform and bank performance in China
    • Lin X., Zhang Y. Bank ownership reform and bank performance in China. J. Bank. Finance 2009, 33:20-29.
    • (2009) J. Bank. Finance , vol.33 , pp. 20-29
    • Lin, X.1    Zhang, Y.2
  • 35
    • 0037347930 scopus 로고    scopus 로고
    • Equity ownership and firm value in emerging markets
    • Lins K. Equity ownership and firm value in emerging markets. J. Financial Quant. Anal. 2003, 38(1):159-184.
    • (2003) J. Financial Quant. Anal. , vol.38 , Issue.1 , pp. 159-184
    • Lins, K.1
  • 36
    • 0000294096 scopus 로고
    • The cost of capital, corporation finance and the theory of investment
    • Modigliani F., Miller M.H. The cost of capital, corporation finance and the theory of investment. Am. Econ. Rev. 1958, 48:261-297.
    • (1958) Am. Econ. Rev. , vol.48 , pp. 261-297
    • Modigliani, F.1    Miller, M.H.2
  • 37
    • 0035681663 scopus 로고    scopus 로고
    • Tests of financial intermediation and banking reform in China
    • Park A., Sehrt K. Tests of financial intermediation and banking reform in China. J. Comp. Econ. 2001, 29:608-644.
    • (2001) J. Comp. Econ. , vol.29 , pp. 608-644
    • Park, A.1    Sehrt, K.2
  • 38
    • 0001026456 scopus 로고    scopus 로고
    • A Survey of corporate governance
    • Shleifer A., Vishny R. A Survey of corporate governance. J. Finance. 1997, 52:737-783.
    • (1997) J. Finance. , vol.52 , pp. 737-783
    • Shleifer, A.1    Vishny, R.2
  • 40
    • 84876702105 scopus 로고    scopus 로고
    • Some Issues Concerning the Reform of the State-owned Commercial Banks
    • at the IIF Spring Membership Conference, Shanghai, April 16
    • Zhou, X., 2004. Some Issues Concerning the Reform of the State-owned Commercial Banks, Speech by the Governor of the People's Bank of China, at the IIF Spring Membership Conference, Shanghai, April 16.
    • (2004) Speech by the Governor of the People's Bank of China
    • Zhou, X.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.