Does Bank Loan Ratio Affect Investment of China's Listed Companies?

被引：0
|
作者：
Yuan, Yuan [1 ]
Motohashi, Kazuyuki [1 ]
机构：
[1] Univ Tokyo, Tokyo, Japan
来源：
ECONOMICS BULLETIN | 2010年 / 30卷 / 02期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, we analyze whether the total debt ratios and bank loan ratios of Chinese listed companies had any impact on their fixed investment in 2001-2006, and whether this impact, if it existed, differed among companies with differing investment opportunities. The analysis led to the interesting result that the bank loan ratio had a stronger impact on fixed investment than the total debt ratio, and actually had the strong effect of restraining investment particularly by low-growth companies, implying that in China, banks supervise the investment activities of companies more strongly.
引用
收藏
页码：1172 / 1180
页数：9
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