Market liquidity, credit maturity structure and asset mismatch in manufacturing firms

被引：0
|
作者：
Yao, Lianjun [1 ]
Qiu, Yuting [2 ]
机构：
[1] Zhejiang Gongshang Univ, Sch Econ, Hangzhou 310018, Peoples R China
[2] Bank Ningbo Co Ltd, Hangzhou Branch, Hangzhou 310000, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 63卷
关键词：
Market liquidity; Credit maturity structure; Asset mismatch; Manufacturing firms;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Based on the period from 2011 to 2021 and considering macroeconomic data, this paper analyzes the relationship between market liquidity and asset mismatch in manufacturing firms. Specifically, this paper reveals that market liquidity can mitigate manufacturing firms` asset mismatch by optimizing credit maturity structure. Further, heterogeneous effects exist in the impact of the policy above, both at a regional and individual level. Market liquidity is crucial in mitigating asset mismatch for companies operating in locations with intense competition among banks and high leverage levels. However, its impact has been minimal in companies with limited bank rivalry and modest borrowing levels.
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页数：6
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