Abstract This paper explores the impact of bank digitalisation on corporate agency costs. The findings show that: (i) significantly reduces costs by improving banks' monitoring capabilities; (ii) financial regulation further lowers for firms engaging with more digitised banks; and (iii) effect between is weaker in state‐owned enterprises those short‐sighted management, but stronger greater financing constraints shorter listing durations. These results provide new evidence digitalisation's...

This study utilizes data from non-financial listed companies in China 2016 to 2022 and employs a quasi-natural experiment investigate the impact of financial regulation on enterprises' shadow banking. The research findings indicate that after Chinese government strengthened banking, enterprises with substantial bank loans, weaker financing constraints, state-owned property rights have increased "shadow banking" activities. phenomenon alleviates constraints faced by highly constrained...

In 2020, the novel coronavirus outbreak in China and rapidly spread around world, causing a great impact on economies of all countries, but also brought uncertainty to global financial market. The epidemic may not only trigger crisis supply, investment supply chain disruption, further market, exacerbating systemic risks market having certain pricing various types assets. On this basis, study conducts an empirical stock under influence COVID-19 based capital asset model explore its...

This paper employs a matched dataset of bank-enterprise relationships and utilizes methods like DID text analysis to investigate whether how bank digitization can reduce enterprise agency costs. The results indicate that significantly reduces Mechanism tests suggest lowers costs by enhancing the monitoring capability bank. Heterogeneity reveals this effect is primarily present in non-state-owned enterprises joint-stock banks China. empirical findings provide new evidence for positive effects...

The effectiveness of financial regulation has been a focal point in both theoretical and practical discussions. This study utilizes data from Chinese non-financial listed companies spanning the years 2016 to 2022, employing quasi-natural experiment investigate impact on shadow banking system. results indicate that China, enterprises characterized by features such as large scale state ownership, which easily access external financing, assume some functions following government banking. effect...