Efficiency of trade credit and bank finance: An ethnic minority area in China
Efficiency of trade credit and bank finance: An ethnic minority area in China
复制标题
贸易信贷和银行融资的效率：中国的一个少数民族地区
DOI：
10.1080/13547860.2019.1670929
复制
发表时间：
2019
影响因子：
1.4
通讯作者：
Go and Maho Shiraishi
中科院分区：
文献类型：
--
作者：
Yano;Go and Maho Shiraishi
本文利用1998-2008年工业企业微观数据，考察了新疆维吾尔自治区通过贸易信贷和银行贷款进行金融中介的效率。我们发现：（1）少数民族企业在获得贸易信贷后，在财务困难时往往不偿还贷款;（2）银行金融将更多资金分配给效率更高的少数民族企业，同时也允许业绩水平较差的国有控股汉族企业获得银行贷款;（3）对少数民族企业的有效金融中介是通过银行向相对较大的企业提供贷款实现的。
Using 1998–2008 firm-level microdata for industrial firms, we investigate the efficiency of financial intermediation through trade credit and bank loans in an ethnic minority area in China, the Xinjiang Uygur Autonomous Region. We find: (1) after receiving trade credit, ethnic minority firms tend not to repay it when they are financially distressed; (2) bank finance allocates more funds to more efficient ethnic minority firms while also allowing state-holding Han firms with worse performance levels to access bank loans; (3) efficient financial intermediation to ethnic minority firms is achieved through bank loans to relatively large firms.