How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-12-04 DOI:10.1016/j.frl.2024.106576

Jie Luo, Jie Li

引用次数: 0

Abstract

This study explores the impact of the New Budget Law, representing local government debt governance, on corporate credit discrepancies. Findings indicate that the New Budget Law can reduce corporate credit mismatch allocation based on the data from 2011 to 2023. Furthermore, the positive effects are achieved by reducing financing costs, increasing the availability of corporate finance, and reducing the negative impact of corporate credit mismatch. The results contribute to the restructuring of the local debt management system by providing a basis for decision-making and insights into establishing an efficient government and attaining robust economic growth.

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地方政府债务治理如何影响企业信用错配？实施新预算法的证据

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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