Dual influences of regulatory polices on real estate enterprises’ investment —based on the perspective of supply-side reform in China
Yanni Zeng and
Finance Research Letters, 2017, vol. 23, issue C, 50-57
This paper analyzes the influence of regulatory policies on investment expenditures of real estate enterprises with the data of Chinese listed real estate enterprises. The results show that, the integral deflation policies prevent the investment expenditure of real estate enterprises in two aspects: supply effect and the demand effect. The influence of regulatory policies on state-owned listed real estate enterprises is mainly realized via demand effect, while that of non-state-owned real estate enterprises by two channels. Firstly, policies can influence the investment expenditure of real estate enterprises directly. Secondly, it can indirectly influence the investment expenditure by financing constraints.
Keywords: Regulatory policies; Investment expenditures; Financing constraints; Supply-side reform in china (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:23:y:2017:i:c:p:50-57
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