By allowing large classes of movable assets to be used as collateral, the Property Law reform transformed the secured transactions in China. Difference-in-differences test show firms operating with ex-ante more movable assets expand access to bank credit and prolong debt maturity. However, the...

By allowing large classes of movable assets to be used as collateral, the Property Law reform trans-formed the secured transactions in China. Difference-in-differences tests show firms operating with ex-ante more movable assets expand access to bank credit and prolong debt maturity. However, the...