A5074425605- Corporate Finance and Governance
- Banking stability, regulation, efficiency
- Credit Risk and Financial Regulations
- Financial Markets and Investment Strategies
- Auditing, Earnings Management, Governance
- COVID-19 Pandemic Impacts
- Transport and Economic Policies
- Fiscal Policy and Economic Growth
- Opinion Dynamics and Social Influence
- Islamic Finance and Banking Studies
- Complex Network Analysis Techniques
- FinTech, Crowdfunding, Digital Finance
- Social Media and Politics
- Cardiac, Anesthesia and Surgical Outcomes
- Natural Language Processing Techniques
- Insurance and Financial Risk Management
- Aortic Disease and Treatment Approaches
- Aviation Industry Analysis and Trends
- Microfinance and Financial Inclusion
- Working Capital and Financial Performance
- Aortic aneurysm repair treatments
- Topic Modeling
- Economic and Environmental Valuation
- Economic theories and models
- Financial Literacy, Pension, Retirement Analysis
Renmin University of China
2016-2024
Sichuan University
2024
West China Hospital of Sichuan University
2024
Chinese Academy of Medical Sciences & Peking Union Medical College
2022-2023
University of Science and Technology of China
2023
National Engineering Research Center of Electromagnetic Radiation Control Materials
2023
University of Electronic Science and Technology of China
2023
University of Chinese Academy of Sciences
2023
Xinxiang Medical University
2022
Academy of Mathematics and Systems Science
2013-2022
Abstract We study credit allocation across firms and its real effects during China’s economic stimulus plan of 2009–2010. match confidential loan-level data from the nineteen largest Chinese banks with firm-level on manufacturing firms. document that stimulus-driven expansion disproportionately favored state-owned a lower average product capital, reversing process capital reallocation toward private characterized high growth before 2008. argue implicit government guarantees for...
This paper investigates the relation between media coverage and offering yield spreads using a comprehensive dataset of 5,338 industrial bonds issued from 1990 to 2011. We find that is negatively associated with firms’ cost debt. association robust controlling for standard determinants, different model specifications, endogeneity. identify 4 economic channels through which influences debt: Information asymmetry, governance, liquidity, default risk. Importantly, has an independent influence...
ABSTRACT We study how a fiscal expansion via infrastructure investment influences the dynamic impacts of monetary stimulus on credit allocation. develop two‐stage approach and apply it to Chinese economy with confidential loan‐level data set that covers all sectors. find significantly weakened policy's transmission allocated private firms, while reinforcing effects loans state‐owned firms. This fiscal‐monetary interaction channel is key understanding preferential access enjoyed by firms...
Purpose Given the scarcity of data during early stages COVID-19 pandemic in China, decision-making for non-pharmaceutical policies was mostly based on insufficient evidence. The purpose this study is to assess effectiveness these policies, such as lockdown and government subsidies, rural households identify policy implications China other countries dealing with pandemics. Design/methodology/approach authors survey 2,408 by telephone from 101 counties across 17 provinces first stage (March...
Using proprietary individual level loan data, this paper explores the economic consequences of 2009 bank entry deregulation in China. Such leads to higher screening standards, lower interest rates, and delinquency rates for corporate loans from entrant banks. Consequently, deregulated cities, private firms with credit access increase asset investments, employment, net income, ROA. In contrast, performance state-owned enterprises (SOEs) does not improve following deregulation. Deregulation...
Abstract This paper investigates whether and how analysts' ESG orientation affects corporate green innovation in China. We find that ESG‐oriented analysts brokerage firms with strong performance significantly stimulate the target firms' innovation. Mechanism analyses suggest enhance anticipated benefits of environmental risk management, reduces costs associated managerial myopia financial frictions. The effect could not be fully explained by competence. Our findings are robust to propensity...
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Abstract This article documents novel large-sample evidence on the informational role of interfirm ownership networks in bank lending. Using comprehensive loan-level data China, we find that banks’ internal loan ratings at issuance predict subsequent delinquent events more accurately when borrowers are connected to existing customers via networks. In post-issuance monitoring for loans, banks with access manage downgrade their initial before late payments. These findings suggest facilitate...
Tianshu Yu, Haoyu Gao, Ting-En Lin, Min Yang, Yuchuan Wu, Wentao Ma, Chao Wang, Fei Huang, Yongbin Li. Proceedings of the 61st Annual Meeting Association for Computational Linguistics (Volume 1: Long Papers). 2023.