How Does Digital Finance Suppress Corporate Entrusted Loan

QIU Shan-yun; BAI Jun

Volume 38 Issue 3

May 2023

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Article Navigation > Journal of Guangdong University of Finance & Economics > 2023 > 38(3): 54-68

QIU Shan-yun, BAI Jun. How Does Digital Finance Suppress Corporate Entrusted Loan[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(3): 54-68.

Citation:

QIU Shan-yun, BAI Jun. How Does Digital Finance Suppress Corporate Entrusted Loan[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(3): 54-68.

QIU Shan-yun, BAI Jun. How Does Digital Finance Suppress Corporate Entrusted Loan[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(3): 54-68.

Citation:

QIU Shan-yun, BAI Jun. How Does Digital Finance Suppress Corporate Entrusted Loan[J]. Journal of Guangdong University of Finance & Economics, 2023, 38(3): 54-68.

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How Does Digital Finance Suppress Corporate Entrusted Loan

QIU Shan-yun¹,
BAI Jun^2
,

1.
School of Economics, Shandong University, Jinan 250100
2.
School of Economics and Management, Shihezi University, Shihezi 832000, China

Received Date: 2022-11-25
Available Online: 2023-07-07
Publish Date: 2023-05-28

Abstract

Abstract

Using the unique data on entrusted loans collected manually, this paper discusses in depth the impact of digital finance on enterprise entrusted loans as a shadow banking activity and its mechanism. It is found that digital finance has a dampening effect on enterprise entrusted loans, which is manifested by a decrease in the probability and size of enterprise entrusted loans, and this effect is mainly achieved through digital finance to reduce enterprise excess bank credit and to increase enterprise information transparency. Further analysis shows that digital finance also affects the frequency and maturity of entrusted loans, and its coverage and digitalization have a more significant inhibiting effect on entrusted loans. In addition, digital finance has an error correction function for entrusted loans, which can correct the problems of attribute mismatch, de-realization and reverse credit cycle allocation of entrusted loans that exist in traditional finance. Moreover, digital finance has a positive effect on promoting enterprise innovation investment while reducing the entrusted loan issuance. This study provides empirical evidence to clarify the micro effects of digital finance and to suppress the risk of shadow banking.
- digital finance,
- enterprise entrusted loan,
- shadow banking,
- information effect

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References(38)

References

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