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The Impact of Government-Backed Financing Guarantee Programs on Employment in SMEs: Evidence from China

In: Proceedings of the SSEME Workshop on Economics and Management (SSEME-EM 2024)

Author

Listed:
  • Shihao Chen

    (Zhejiang Gongshang University, School of Finance)

  • Guangwei Liu

    (Shanghai Lida University, School of Digital Science)

  • Mingxin Zhang

    (Zhejiang Gongshang University, Tailong Finance School)

Abstract

The study investigates the effect of Government-Backed Financing Guarantees (GFGs) on employment within small and medium-sized enterprises (SMEs), drawing on data from the Zhejiang Guarantee Group and non-publicly traded SMEs in China. Results indicate a substantial positive impact of GFG programs on SME employment, with notably pronounced benefits for private firms. Furthermore, the analysis confirms that GFGs bolster employment rates in firms by easing financial constraints and increasing firm revenues.

Suggested Citation

  • Shihao Chen & Guangwei Liu & Mingxin Zhang, 2024. "The Impact of Government-Backed Financing Guarantee Programs on Employment in SMEs: Evidence from China," Advances in Economics, Business and Management Research, in: Ramayah Thurasamy (ed.), Proceedings of the SSEME Workshop on Economics and Management (SSEME-EM 2024), pages 63-71, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-527-0_7
    DOI: 10.2991/978-94-6463-527-0_7
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