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Full-Text Articles in Business
Does Bank Ownership Imply Efficient Monitoring? Evidence From Bank Lending And Firm Investment Efficiencies In China, Gary G. Tian, Xiaofei Pan
Does Bank Ownership Imply Efficient Monitoring? Evidence From Bank Lending And Firm Investment Efficiencies In China, Gary G. Tian, Xiaofei Pan
Faculty of Business - Papers (Archive)
This study investigates the effect of bank ownership on lending and firm investment efficiencies to give reasons for the mixed evidence that exists on the impact of bank ownership on firm performance. Using China's listed firms as an example, we find that bank ownership reduces the efficiency of bank lending and harms investment efficiency for state-owned enterprises (SOEs), while simultaneously relating to optimal lending decisions and enhanced investment efficiency for non-SOEs. Our findings suggest that banks monitor non-SOEs effectively, but are less effective at monitoring SOEs. We document that banks' ex post monitoring on non-SOEs' investment policy results from their …
Bank Connection, Corruption And Collateral In China, Xiaofei Pan, Gary Tian
Bank Connection, Corruption And Collateral In China, Xiaofei Pan, Gary Tian
Faculty of Business - Papers (Archive)
Using a sample of China's listed entrepreneurial firms, we investigate the relationship between bank connection, corruption and collateral requirements. We find that when a firm is connected with banks, collateral requirements are significantly lower. We also find that bank connection is the channel through which corruption is exercised to benefit those firms with favoured loan terms. Our analysis further reveals that bank connection and corruption have jointly improved bank lending efficiency. However, these positive effects become weaker with government intervention in the form of an economic stimulus package. We argue that in an emerging market, bank connection facilitates rent seeking …
Not All Bank Accounts In Tax Havens Amount To Criminal Conduct, John A. Mclaren
Not All Bank Accounts In Tax Havens Amount To Criminal Conduct, John A. Mclaren
Faculty of Business - Papers (Archive)
More than 500 Australians are apparently on a list of tax haven users obtained by the Washington-based International Consortium of Investigative Journalists, as part of its investigation into the use of offshore companies.