リュウ　アセイ   RYU Asei   劉　亜静    所属   広島修道大学  経済科学部    職種   教授
言語種別	英語
発行・発表の年月	2024
形態種別	学術論文
査読	査読有り
標題	Impact of Government Guidance Funds and Local Financial Environments on Chinese Industrial Enterprises’ Performance
執筆形態	単著
掲載区分	国外
出版社・発行元	Spring社, 掲載決定, Forthcoming
概要	This study examines the effects of government guidance funds (GGFs) and local financial environment on the performance of Chinese industrial enterprises. Using a panel dataset (2001–2020) of Chinese industrial firms, it reveals that receiving GGFs significantly boosts firm sales and profits. Additionally, there is a correlation between GGFs and macroeconomic and financial indicators of the provinces where the enterprises are located. Specifically, for small- and medium-sized enterprises, non-state-owned enterprises, and regions in the central and western parts of China, GGFs complement traditional long-term bank lending as a financing channel. However, a substitutive relationship exists for short-term bank lending.