首页> 学院新闻
喜讯 | 经管学院张劲帆教授论文荣获欧洲金融学会会刊Review of Finance 2022年度最佳论文奖Finalist
发布时间:2022-09-28浏览次数:937次

自2008年金融危机后,影子银行引起了学术界的广泛关注,并成为中外学者的研究热点。

日前,香港中文大学(深圳)经管学院张劲帆教授的论文“Finance Leases: In the Shadow of Banks” 聚焦研究中国融资租赁行业,揭示了它作为中国影子银行的重要组成部分和商业银行间的紧密关系。该论文为理解中国影子银行提供了全新视角,荣获金融学国际权威期刊Review of Finance 2022年度最佳论文奖Finalist。

Review of Finance是欧洲金融学会的官方期刊、国际商学院权威刊物FT 50。


张劲帆

香港中文大学(深圳)经管学院副教授

及金融学博士项目主任

深高金宏观金融稳定与创新研究中心联席主任

研究领域

中国经济、资本市场和金融机构、数字经济


Finance Leases: In the Shadow of Banks

Abstract

By analyzing a hand-collected transaction-level dataset on the finance leases of China’s public firms for the period 2007–19, this article sheds light on China’s leasing market, the second largest in the world. We find that banks use their affiliated leasing firms to provide credit to clients in order to circumvent the government’s targeted credit tightening policy. In contrast to conventional view of regulatory arbitrage, our evidence shows that, rather than hiding risk and gambling for profit, bank-affiliated  leasing firms have prudent risk control and efficient pricing. These bank-affiliated institutions are used by banks to play strategic role inrelationship banking. At the same time, the ownership of the lessor also matters for the financing choice of the lessee.


论文共同作者

杨汀 北方工业大学

史燕平 对外经济贸易大学