Government involvement in banking systems and economic growth: a comparison across countries

Li, Wilson X. B.; He, Tina T.; Cho, Stella P. L.

doi:10.1080/20954816.2018.1558981

Cited by 4 publications

(2 citation statements)

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“…From the supply perspective, bank loan is the most important source of corporate finance. La Porta and Shleifer (2002), Dinç (2005), Li et al (2019) find that government ownership of banks in the world is popular and banks' behaviors are inevitably subject to government intervention and influence. Kornai (1979) and Shleifer and Vishny (1994) point that politicians would interfere banks' credit allocation for political purposes.…”

Section: Theoretical Analysis and Hypothetical Developmentmentioning

confidence: 99%

Local government turnover and capital structure: evidence from China

Liang

Fu²,

Yu³

et al. 2022

ARA

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PurposeThe political influence on the determinants of capital structure has been under-researched for a long time. Taking the turnover of secretary of municipal committee as a political factor in China, this paper studies the effect of local government officials' turnover on firm's capital structure.Design/methodology/approachStarting with all A-shares listed firms in the Shanghai and Shenzhen Stock Exchanges from 2001 to 2018, this paper implements the OLS estimation, staggered difference-in-difference approach to investigate the effects of political turnover on the choice of capital structure.FindingsThe results show that, driven by government officials' turnover, firms will significantly reduce their leverage. When comparing between formal finance (bank loans) and informal finance (payables), the reduction of capital structure is mainly driven by banks, not by suppliers. Furthermore, two possible channels have been investigated. First, the reduction effects are mainly driven by the SOEs when classifying the types of corporate ownership into SOEs and non-SOEs. Second, the reduction effects exist in areas with the more intense government intervention when considering the heterogeneity of the development of institutional environment in provinces.Originality/valueThis paper first contributes to the literature on the determinants of corporate choice on capital structure. Second, this paper enriches the studies on the economic consequences of local government officials' turnover.

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Section: Theoretical Analysis and Hypothetical Developmentmentioning

confidence: 99%

Local government turnover and capital structure: evidence from China

Liang

Fu²,

Yu³

et al. 2022

ARA

View full text Add to dashboard Cite

show abstract

“…With the development of the economy and people's living standards [1], car ownership has been increasing substantially [2]. As the main energy product of the transportation industry [3], gasoline also shows a trend of gradual increase.…”

Section: Introductionmentioning

confidence: 99%

A Data-Trait-Driven Rolling Decomposition-Ensemble Model for Gasoline Consumption Forecasting

2021

Energies

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In order to predict the gasoline consumption in China, this paper propose a novel data-trait-driven rolling decomposition-ensemble model. This model consists of five steps: the data trait test, data decomposition, component trait analysis, component prediction and ensemble output. In the data trait test and component trait analysis, the original time series and each decomposed component are thoroughly analyzed to explore hidden data traits. According to these results, decomposition models and prediction models are selected to complete the original time series data decomposition and decomposed component prediction. In the ensemble output, the ensemble method corresponding to the decomposition method is used for final aggregation. In particular, this methodology introduces the rolling mechanism to solve the misuse of future information problem. In order to verify the effectiveness of the model, the quarterly gasoline consumption data from four provinces in China are used. The experimental results show that the proposed model is significantly better than the single prediction models and decomposition-ensemble models without the rolling mechanism. It can be seen that the decomposition-ensemble model with data-trait-driven modeling ideas and rolling decomposition and prediction mechanism possesses the superiority and robustness in terms of the evaluation criteria of horizontal and directional prediction.

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Can machine learning paradigm improve attribute noise problem in credit risk classification?

Huang

Yin

2020

International Review of Economics & Finance

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Government involvement in banking systems and economic growth: a comparison across countries

Cited by 4 publications

References 20 publications

Local government turnover and capital structure: evidence from China

Local government turnover and capital structure: evidence from China

A Data-Trait-Driven Rolling Decomposition-Ensemble Model for Gasoline Consumption Forecasting

Can machine learning paradigm improve attribute noise problem in credit risk classification?

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