近日，我院肖作平教授及其指导的博士生合作撰写的学术论文Effect of severe litigation and bank connection on bank financing in China发表于国际SSCI重要期刊ACCOUNTING & FINANCE（JCR Q2）。
https://doi.org/10.1111/acfi.12719
Abstract：
We empirically examine the effect of severe litigation, bank connection and their interaction on firms’ access to bank financing based on China’s background. We find that (i) firms with a recent history of severe litigation experience a decrease in bank financing regardless of whether they are defendants or plaintiffs; (ii) firms with bank connections obtain more bank financing; and (iii) bank connection can mitigate the detrimental impact of severe litigation on bank financing. Our findings suggest that banks recognise the high costs and risks of severe litigation to firms, thus imposing more financing constraints on firms with severe litigation. Meanwhile, bank connection can help firms recover from the detrimental impact of severe litigation, corroborating the argument that informal mechanisms, such as those based on social relations, promote financial transactions and thus the growth of firms in China.
