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Article: Property Rights, Finance, and Reinvestment: Evidence from China’s Private Enterprises
Title | Property Rights, Finance, and Reinvestment: Evidence from China’s Private Enterprises |
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Authors | |
Keywords | Property rights protection Access to external finance Reinvestment decision China economy |
Issue Date | 2020 |
Publisher | Peking University Press. The Journal's web site is located at http://www.aeconf.net/index.htm |
Citation | Annals of Economics and Finance, 2020, v. 21 n. 2, p. 363-392 How to Cite? |
Abstract | The existing studies have failed to find conclusive results on the relative importance of property rights protection and access to external finance for enterprise reinvestment partly due to their lack of control for the endogeneity problems. In this study, using data of China’s private enterprises, we re-investigate this issue by carefully addressing the endogeneity issues. We find that property rights protection is more important for the reinvestment decision than the access to external finance. Our study demonstrates forcefully that, China is no different from other transition economies regarding the fundamental importance of property rights security to firm performance. |
Description | Bronze open access |
Persistent Identifier | http://hdl.handle.net/10722/294562 |
ISSN | 2023 Impact Factor: 0.2 2023 SCImago Journal Rankings: 0.160 |
SSRN |
DC Field | Value | Language |
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dc.contributor.author | Bai, CE | - |
dc.contributor.author | Du, J | - |
dc.contributor.author | Lu, Y | - |
dc.contributor.author | Tao, Z | - |
dc.date.accessioned | 2020-12-08T07:38:44Z | - |
dc.date.available | 2020-12-08T07:38:44Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | Annals of Economics and Finance, 2020, v. 21 n. 2, p. 363-392 | - |
dc.identifier.issn | 1529-7373 | - |
dc.identifier.uri | http://hdl.handle.net/10722/294562 | - |
dc.description | Bronze open access | - |
dc.description.abstract | The existing studies have failed to find conclusive results on the relative importance of property rights protection and access to external finance for enterprise reinvestment partly due to their lack of control for the endogeneity problems. In this study, using data of China’s private enterprises, we re-investigate this issue by carefully addressing the endogeneity issues. We find that property rights protection is more important for the reinvestment decision than the access to external finance. Our study demonstrates forcefully that, China is no different from other transition economies regarding the fundamental importance of property rights security to firm performance. | - |
dc.language | eng | - |
dc.publisher | Peking University Press. The Journal's web site is located at http://www.aeconf.net/index.htm | - |
dc.relation.ispartof | Annals of Economics and Finance | - |
dc.subject | Property rights protection | - |
dc.subject | Access to external finance | - |
dc.subject | Reinvestment decision | - |
dc.subject | China economy | - |
dc.title | Property Rights, Finance, and Reinvestment: Evidence from China’s Private Enterprises | - |
dc.type | Article | - |
dc.identifier.email | Tao, Z: ztao@business.hku.hk | - |
dc.identifier.authority | Tao, Z=rp01097 | - |
dc.description.nature | link_to_OA_fulltext | - |
dc.identifier.scopus | eid_2-s2.0-85096196087 | - |
dc.identifier.hkuros | 320409 | - |
dc.identifier.volume | 21 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 363 | - |
dc.identifier.epage | 392 | - |
dc.publisher.place | China | - |
dc.identifier.ssrn | 1495682 | - |