Ji, Zhibin; Ye, Naide; Kong, Dongmin - In: China economic quarterly international : CEQI 4 (2024) 2, pp. 119-132
Employing the exogenous scenario of the "New Rules on Asset Management" in April 2018, this paper tries to explore the impact of the contraction of Chinese shadow banking on corporate investment behavior. This paper finds that the regulation leads to a 18.3% decrease in capital expenditure for...