Wang, Jingru; Wang, Hongjian; Liu, Xinghe; Li, Qingyuan - In: China journal of accounting studies 10 (2022) 1, pp. 49-72
Based on the exogenous shock of the bank lending interest rate ceiling deregulation in China, this paper uses a difference-in-differences model and studies how credit availability affects classification shifting from the perspective of formal debt contract formation. We find that high-risk...