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Shadow banking, credit term structure, and financialization of manufacturing firms

Author

Listed:
  • Shen, Zhou
  • Sun, Sisi
  • Zhu, Yingtao

Abstract

In recent years, there has been a phenomenon of “derealization to virtualization” in China's capital flow. However, studies have focused less on the level of financialization of manufacturing enterprises and the effect of shadow banking. This study found that shadow banking increases the level of financialization of manufacturing firms and the credit term structure positively strengthens this promotion effect. This study offers manufacturing enterprises new perspectives and practical insights to improve their financialization.

Suggested Citation

  • Shen, Zhou & Sun, Sisi & Zhu, Yingtao, 2024. "Shadow banking, credit term structure, and financialization of manufacturing firms," Finance Research Letters, Elsevier, vol. 60(C).
    • Handle: RePEc:eee:finlet:v:60:y:2024:i:c:s1544612323012333
    DOI: 10.1016/j.frl.2023.104861
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