This study investigates whether and how FinTech influences intermediation and stability of banks with a focus on the competition between FinTech companies and banks in the deposit market. Using proprietary data from a leading Chinese FinTech company, we study a money market fund with...

This paper investigates whether social security contributions affect corporate financing decisions. Treating the 2011 Social Insurance Law in China as a quasi-natural experiment, our difference-in-differences framework utilizes two-dimension variations: initial social security contribution rates...