Economic Policy Uncertainty and Corporate Bank Credits: Evidence from China

被引：8
|
作者：
Yu, Haishan [1 ]
Lv, Wendai [2 ]
Liu, Huan [3 ]
Wang, Jingda [4 ]
机构：
[1] Wuhan Univ, Ctr Finance Res, Wuhan, Peoples R China
[2] Beijing Univ Chem Technol, Sch Econ & Management, Beijing 100029, Peoples R China
[3] Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Peoples R China
[4] Capital Univ Econ & Business, Sch Publ Finance & Taxat, Beijing, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2022年 / 58卷 / 11期
关键词：
Economic policy uncertainty (EPU); bank credit lines; ownership discrimination; financing constraint; POLITICAL UNCERTAINTY; CONSTRAINTS; INVESTMENT; RISK; DECISIONS; BURDENS; FINANCE;
D O I：
10.1080/1540496X.2021.2021179
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper studies the relationship between economic policy uncertainty (EPU) and corporate bank credits for Chinese listed companies. We find that high EPU reduce the corporate bank credits. The negative association is less obvious in state-owned companies, that is, SOEs have a higher capacity to resist uncertainty than non-SOEs. Further research indicates that the positive effect of state-owned status on bank credit lines during times of rising EPU is stronger among companies facing more severe financing constraints.
引用
收藏
页码：3023 / 3033
页数：11
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