Formal versus Informal Finance: Evidence from China
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Cites background from "Formal versus Informal Finance: Evi..."
...…Ayyagari, Demirgüç-Kunt, and Maksimovic (2008)), firm financing patterns (e.g., Beck, Demirgüç-Kunt, and Maksimovic (2008), Cull and Xu (2005), and Ayyagari, Demirgüç-Kunt, and Maksimovic (2010b)), dispute resolution via courts (e.g., Djankov, La Porta, Lopez-de-Silanes, and Shleifer…...
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Cites background from "Formal versus Informal Finance: Evi..."
...For example, a major source of startup capital comes from informal financing, such as family wealth and borrowings from relatives and friends, as non-SOEs are discriminated against bank loans due to the financial repression system (e.g., Allen et al., 2005; Ayyagari et al., 2008)....
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"Formal versus Informal Finance: Evi..." refers background in this paper
...…versus informal financing in China overlaps with two commonly used definitions: the definition from the financial intermediation literature (e.g., Diamond 1984; Berger and Udell 1998) that informal financing is not associated with a delegated monitor, unlike formal financing,19 and the…...
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6,815 citations