Ahmedabad Stock：[Lecture Notice] Economic and Financial Masters Lecture 2024, Issue 1 (Total No. 20)

What happy to lived firms when they take a shadow loan?

March 15, 2024 (Friday)Ahmedabad Stock

10: 00-12: 00Surat Investment

Sushanta Mallick

Professor of Business Management College of Queen Mary University of LondonNew Delhi Investment

SushanTa Mallick is a Professor of International Finance at the School of Business and Management, Queen Mary University of London, UkGuoabong Investment. Also, Since January 2015, he has Been the Co-Editor-IN-Chief of 'Economic Modelling'-A Leading 40-year-Old School Journal. He Also Acts as a CO-EDITOR of 'Economic Analysis and Policy' (A 54-Year-Old Journal of 'The Economic Society of Australia '). HE HOLDS A PhD In Economics from the University ofWarwick, uk. He has public 100 peer-reviewed Articles in Leading Journals, Focused on the the Areas of International Economics, Banking & Finance, AN d innovation & development. As Per Ideas/Repec Ranking, he is among the top 5%Economists. His work has been published in Journals Such As: British Journal of Management, Research Policy, Economic Theory, European Journal of Operational Res Earch, Journal of Corporate Finance, Journal of Economic Behavior & Organization, Industrial Relations, British Journal of Industrial Relations,Journal of Banking & Finance, Oxford Bulletin of Economics & Statistics, IMF ECONOMIC Review, Cambridge Journal of Economics, Journal of Internal Money and Finan CE, World DEVELOPMENT, and Many Others.

This pain used use transactions dataset from China to Identify WHADOW LOANS COS EREANS as to why a Listed Firm Would Opt for Such Loans. USING PROPENSITY-SCORE MATCHED DATA, We, we, weFind That Privately-Owned Firms with Shadow Loans are forced to Obtain the Loans Since They Are Getting Out of the Formal Loan Market Follow A Regulation CH Ange in 2009 that favouded state-wened firms who tend to under-perform.Different-in-Differencess (DID) Methodology to UncoVer that Privately-Wenedlms Experience a Decline in their Performance, namely LOWER FIRM INESTMENT A ND Higher Default Probability Following their High Dependent On Shadow Loans. Nonetheless, Technolog-Intensive and Highly Privately-Owned Listed Firms Are Not Affected Adversly After Acquiring Such Shadow Loans. The Above Results Survive Various Robustness Checks, Including USSTERSE-PROBABILITY Weight Regressions and 2SLS Instrumental Variable Regressions.

Introduction

The Indian University of Foreign Economics and Trade University of Economic and Trade, the Indian Institute of Finance, was founded in 2022 to build a high -end academic exchange platform to promote the academic research and development of the college, and improve the academic influence of the college.This forum invites experts and scholars in the well -known economy and financial fields at home and abroad to teach cutting -edge research results to discuss related hot topics in the financial sector. So far, 20 games have been held, which has greatly promoted the academic exchanges of the college.

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