Property rights, trade credit and entrepreneurial activity in China

Go Yano, Maho Shiraishi and Haiqing Hu

Journal of the Asia Pacific Economy, 2013, vol. 18, issue 1, 168-192

Abstract: This work empirically reconsiders the significance of legal protection of property rights and financial development for entrepreneurial activity measured by private investment in China, taking into account trade credit as an intermediate position between the two institutional developments. For financial development, we find that development of trade credit has a direct positive influence on private entrepreneurial investment, while development of bank finance has less impact on promotion of private investment. Legal property rights protection likely encourages private entrepreneurial investment indirectly, via development of trade credit.

Date: 2013
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DOI: 10.1080/13547860.2012.742712

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