Property Rights System Reform and Private Enterprise Financing---An Empirical Study Based on China
The Chinese government has proposed to establish and improve a large and unified domestic market, which relies on the continuous improvement of the domestic market economy system and the construction of a more level competitive environment. This paper uses the DID method to explore the impact of the reform of China’s Security Interests System (RCSIS) marked by the “Property Law” on the financing constraints of Chinese private enterprises (CPE) and its mechanism. The results illustrate that RCSIS significantly alleviated the difficulties but not the expensiveness of CPEs’ financing. Further research indicated that RCSIS led to a significant increase in the level of investment and profitability of enterprises. The research results provide empirical support and a theoretical basis for China to further improve the legal system of property rights and the construction of a market economy system. It also provides practical references for other transition economies to promote economic development by improving their legal systems
Year of publication: |
2023
|
---|---|
Authors: | Yao, Lianjun ; Liang, Zhen ; Ye, Xing |
Publisher: |
[S.l.] : SSRN |
Subject: | China | Sachenrecht | Law of property | Privatwirtschaft | Private sector | Unternehmensfinanzierung | Corporate finance |
Saved in:
freely available
Saved in favorites
Similar items by subject
-
Property rights, finance, and reinvestment : evidence from China's private enterprises
Bai, Chong-En, (2020)
-
Property rights and development of non-state sector in China
Lee, Keun, (1991)
-
Zhu, Qiuxia, (2002)
- More ...