期刊
FINANCE RESEARCH LETTERS
卷 25, 期 -, 页码 90-95出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.frl.2017.10.007
关键词
Government subsidy; Signaling effect; Monetary policy
资金
- Shanghai Planning Program of Philosophy and Social Science [2017EGL004]
We document the credit transmission channel of monetary policy in China by examining the signaling effect of government subsidies on the credit transmission process. We divide the signaling effect of government subsidies into a certification effect (indicating that firms have good quality) and an endorsement effect (indicating that firms have the recessive guarantee of government). Our results show that banks pay more attention to the endorsement effect of government subsidies when they make credit decisions, especially during tight money periods.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据