Using the unique institutional feature of government regulations in China, we provide robust evidence that firms with a larger employment size have significantly better access to bond credit.
This article discussing the correlation between reduced air pollution and lower suicide rates notes that as air pollution decreases, suicide rates also decline...
The development of finance driven by Chinese local governments exacerbates the problem of resource misallocation, whereas market-driven finance significantly improves allocative efficiency. This highlights the policy implication that modern finance in China should prioritize the efficient utilization of resources rather than mere expansion in scale.
“Microgiving,” a new model of fundraising made possible by digital technologies, is premised on the notion that charities can raise substantial funds by soliciting minuscule donations from many individuals.
By comparing business loans made by a BigTech bank with those made by traditional banks, this study finds that BigTech loans tend to be smaller, and the BigTech lender is more likely to grant credit to new borrowers than conventional banks in response to expansionary monetary policy.