Shadow banking and corporate finance

Peng, Hao (2020) Shadow banking and corporate finance. PhD thesis, University of Glasgow.

Abstract

This thesis examines how shadow banking activities affect firms’ behaviors. We focus on two important representatives of shadow banking activities: wealth management products issued by commercial banks and finance companies affiliated in business groups in China. By observing how corporates’ cash holding policies, investment decisions and financing choices response to dynamic changes in the shadow banking activities through three empirical studies, we find that the wide spread of shadow banking activities in China plays an important role in explaining corporate behaviors.

• Item Type: Thesis (PhD)
• Qualification Level: Doctoral
• Additional Information: Supported by China Scholarship Council and University of Glasgow Joint Scholarships.
• Keywords: Shadow banking, corporate finance, cash holding, earnings management.
• Subjects: H Social Sciences > HG Finance
• Colleges/Schools: College of Social Sciences > Adam Smith Business School > Accounting and Finance
• Funder's Name: China Scholarship Council
• Supervisor's Name: Hu, Dr. Nan
• Date of Award: 2020
• Depositing User: Mr HAO PENG
• Unique ID: glathesis:2020-81478
• Copyright: Copyright of this thesis is held by the author.
• Date Deposited: 23 Jun 2020 12:10
• Last Modified: 05 Apr 2024 15:07
• Thesis DOI: 10.5525/gla.thesis.81478
• URI: https://theses.gla.ac.uk/id/eprint/81478