Abstract
ABSTRACTThis study investigates how bank credit asset securitization affects firm innovation using the difference-in-differences (DID) method. Using data from non-financial firms listed in China, we find that bank credit asset securitization significantly promotes firm innovation. The mechanism is that credit asset securitization can reduce the cost of credit financing, increase credit availability, and alleviate financing constraints for firms. Our research is the initial one to investigate the causal impact of credit asset securitization on corporate innovation utilizing data from China. This contribution augments the burgeoning literature on the relationship between the financial system and the real economy in emerging markets.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
