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 … structure in China. We conduct explicit robustness tests for these other reforms and hence contribute to the empirical …

experiment, the enactment of China's Property Rights Law in 2007 (the Law). Using a large dataset of non-listed firms, we … financially constrained firms as creditor rights are strengthened. We also document a leverage decline in China's listed firms …

constructing dynamic investment decision-making model, we find corporate investment heterogeneity in China due to their different …

forms in China as an instrument, where complete access to collateral values is only legally granted to homeowners with full …This paper provides new evidence on the impact of the housing collateral lending channel on entrepreneurial activities … homeowners and employment and economic growth, where homeowners are better able to obtain external financing via the collateral …