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http://hdl.handle.net/10419/45127
  
Title:Source of finance, growth and firm size: Evidence from China PDF Logo
Authors:Du, Jun
Girma, Sourafel
Issue Date:2009
Series/Report no.:Research paper / UNU-WIDER 2009.03
Abstract:Using a comprehensive firm-level dataset spanning the period 1998-2005, this paper provides a thorough investigation of the relationship between firm size, total factor productivity growth and financial structure in China, controlling for the endogeneity of the latter. Generally, it finds financing source matters for firms of different size, and the extent to which financing source matters for firm growth is greater for small firms than big firms. Self-raised finance appears to be most effective in promoting small firms to grow, and bank loan seems to be more supportive to big firms. The relationship between size, finance and growth also depends on ownership. In addition, there exist strong complementarities between formal and informal finance, as well as between indigenous and foreign finance.
Subjects:China
finance
firm size
growth
JEL:O5
G2
L11
L25
O1
ISBN:978-92-9230-172-9
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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