|
RYU Asei
Department Hiroshima shudo University The Faculty of Economic Sciences Position Professor |
|
| Language | English |
| Publication Date | 2024 |
| Type | Articles |
| Peer Review | With peer review |
| Title | Impact of Government Guidance Funds and Local Financial Environments on Chinese Industrial Enterprises’ Performance |
| Contribution Type | Single-Authored Publication |
| Journal Type | Another Country |
| Publisher | Spring社, 掲載決定, Forthcoming |
| Details | 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. |