经济与社会研究院SEMINAR第97期

题目：Credit Card Use and Small Business Finance: Evidence from China

主讲人：荣昭，南京审计大学

时间：2018年5月18日15:00-16:45

地点：暨南大学中惠楼102室

主讲人简介：

Dr. Rong is currently an Associate Professor at Institute of Urban Development, Nanjing Audit University. He got his Ph.D. degree in Economics at Florida International University. His major research interests include firm innovation, corporate finance, and Chinese economy. He has published papers at international journals, such as Research Policy, Small Business Economics, Emerging Market Review, Journal of Housing Economics, European Financial Management, Eurasian Geography and Economics, China Economic Review, China Agricultural Economic Review, and etc. He also published papers at Chinese journals, such as Guanli Shijie, Jinrong Yanjiu, and Jingjixue Jikan.

Abstract:

Resources from formal finance (here credit card lines) can be reallocated to finance small businesses, which are supposed to be less accessible to formal finance. By examining small businesses in China, we provide direct evidence on such a reallocation. We find that households with informal small businesses are more likely to use credit cards when their businesses are credit constrained. We further find that this effect is more pronounced when credit card density is higher in the community, when the owner holds urban hukou, when the owner is more financially knowledgeable, and when the business is more aged. Additionally, this effect also exists among formal small businesses, and it is significant not only at the extensive margin but also at the intensive margin. Last, we find that credit card access enhances informal small businesses’ subsequent survival rates.