Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion

Jiajia Yan and Chenyan Zhang

Finance Research Letters, 2024, vol. 63, issue C

Abstract: This study investigates how financial institution agglomeration affects labor allocation efficiency in non-financial firms listed on China's A-share markets, within a context of expanded government debt and relaxed local debt financing controls. Results show that such agglomeration significantly improves labor efficiency, mainly by easing financing constraints. The positive impact is stronger in non-state-owned and manufacturing firms.

Keywords: Financial institution agglomeration; Corporate labor allocation efficiency (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:63:y:2024:i:c:s1544612324003118

DOI: 10.1016/j.frl.2024.105281

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