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题名

Does unconventional monetary policy improve credit support for the industry chain? The mechanism of trade credit

作者
通讯作者Du,Zhidi
发表日期
2024-03-01
DOI
发表期刊
ISSN
1059-0560
卷号91页码:180-192
摘要
The People's Bank of China established the Medium-term Lending Facility in 2014 with a framework of eligible collateral. Using this as a quasi-natural experiment, this study employs the difference-in-difference model to investigate the impact of unconventional monetary policy on enterprises' trade credit provision. The research findings are as follows: Firstly, unconventional monetary policy can significantly increase enterprises' trade credit provision, and the policy effect is achieved by lowering credit spreads of bonds. Secondly, for state-owned and manufacturing enterprises, the effect of unconventional monetary policy in promoting the increase in the trade credit provision is more pronounced. Furthermore, the effects of unconventional monetary policy on enterprises' trade credit provision are more pronounced in provinces with a higher degree of marketization, financial development, and capital misallocation.
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相关链接[Scopus记录]
语种
英语
学校署名
其他
Scopus记录号
2-s2.0-85182877508
来源库
Scopus
引用统计
被引频次[WOS]:1
成果类型期刊论文
条目标识符//www.snoollab.com/handle/2SGJ60CL/701397
专题商学院
作者单位
1.School of Finance,Guangdong University of Finance & Economics,Guangzhou,Guangdong,510320,China
2.School of Business,Sun Yat-Sen University,Guangzhou,Guangdong,510275,China
3.School of Business,Southern University of Science and Technology,Shenzhen,Guangdong,518055,China
4.School of Advanced International Studies,Johns Hopkins University,Washington D.C.,20036,United States
5.College of Economics,Shenzhen University,Shenzhen,Guangdong,518060,China
6.King's College London Strand Campus,London,Strand, WC2R 2ls,United Kingdom
推荐引用方式
GB/T 7714
Zhou,Tao,Li,Zhongfei,Bai,Hengrui,et al. Does unconventional monetary policy improve credit support for the industry chain? The mechanism of trade credit[J]. International Review of Economics and Finance,2024,91:180-192.
APA
Zhou,Tao,Li,Zhongfei,Bai,Hengrui,Du,Zhidi,Huang,Jinbo,&Ding,Zengcai.(2024).Does unconventional monetary policy improve credit support for the industry chain? The mechanism of trade credit.International Review of Economics and Finance,91,180-192.
MLA
Zhou,Tao,et al."Does unconventional monetary policy improve credit support for the industry chain? The mechanism of trade credit".International Review of Economics and Finance 91(2024):180-192.
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