FINANCE AND ENTERPRISE PERFORMANCE: DOES ETHNICITY MAKE A DIFFERENCE?
Junfang Sun and
Go Yano
Hitotsubashi Journal of Economics, 2015, vol. 56, issue 2, 197-212
Abstract:
Using 2004-2007 firm-level micro data for enterprises in Xinjiang Uygur Autonomous Region of China, we investigate the relative importance of bank loans and trade credit in promoting enterprise performance. We find statistical evidence that access to bank loans plays a significant role in improving enterprise productivity, but it has a significantly negative impact on profitability; the result continues to hold when taking into account the ethnicity effect. Moreover, there is no evidence of an ethnicity gap for the effect of receiving bank loans on enterprise performance. We also cannot find strong evidence that trade credit influences productivity or profitability.
Keywords: bank loans; trade credit; enterprise performance; ethnic enterprise; Han enterprise (search for similar items in EconPapers)
JEL-codes: G32 O17 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:56:y:2015:i:2:p:197-212
DOI: 10.15057/27596
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