Property rights protection and access to bank loans |
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| Authors: | Chong-En Bai Jiangyong Lu Zhigang Tao |
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| Affiliation: | School of Economics and Management, Tsinghua University, Beijing, China;School of Economics and Finance, The University of Hong Kong, Pok Fu Lam Road, Hong Kong. E-mail:; Center for China in the World Economy;Department of Business Strategy and Policy, Tsinghua University, Beijing, China; School of Business, The University of Hong Kong, Pok Fu Lam Road, Hong Kong |
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| Abstract: | Poor protection of private property has limited the access to bank loans by private enterprises in developing and transition economies. Under those circumstances, private entrepreneurs have resorted to various ways of enhancing the de facto protection of private property. Using a dataset of 3,073 private enterprises in China, this paper empirically investigates the impact of political participation and philanthropic activities – informal substitutes for the lack of formal protection of private property – on the access to bank loans. |
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| Keywords: | Access to bank loans private enterprises property rights protection political participation philanthropic activities. |
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