Property Rights, Finance, and Reinvestment: Evidence from China's Private Enterprises
Publication in refereed journal

香港中文大學研究人員

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摘要The existing studies have failed to find conclusive results on the relative importance of property rights protection and access to external finance for enterprise reinvestment partly due to their lack of control for the endogeneity problems. In this study, using data of China's private enterprises, we re-investigate this issue by carefully addressing the endogeneity issues. We find that property rights protection is more important for the reinvestment decision than the access to external finance. Our study demonstrates forcefully that, China is no different from other transition economies regarding the fundamental importance of property rights security to firm performance.
著者Chong-en Bai, Julan Du, Yi Lu, Zhigang Tao
期刊名稱Annals of Economics and Finance
出版年份2020
月份11
卷號21
期次2
頁次363 - 392
國際標準期刊號1529-7373
語言美式英語

上次更新時間 2021-28-11 於 00:16