29.06.2016 - 09:54:47
Guest Lecture Katarzyna Burzynska
Network Structure and Credit Access: Evidence from China’s Listed Companies. Date: Wednesday, June 29th, 2016, 17:00 – 19:00. Venue: Building SG, Room SG 183.
We cordially invite all interested scientists and students to join us for the guest lecture.
This paper studies the relation between firm specific networks of creditors and corporate access to bank loans in China. The empirical analysis builds on network data constructed from bank shareholding information and loan announcements of publicly listed corporations during the period from 2007 to 2012 and covers in total 1915 firm-year observations. The results show that firms with highly constrained banking networks have better access to credit than firms with less constrained networks. This effect is most pronounced in regions where formal financial institutions are weak. These findings suggest that highly constrained lending networks play a significant role in mitigating the problem of information asymmetry and adverse selection in China’s credit market.
Katarzyna Burzynska is an Assistant Professor at the Department of Economics and Business Economic at Radboud University Nijmegen. She earned her Ph.D. in Economics from Lund University, Sweden. During her Ph.D. studies she was affiliated with the Knut Wicksell Centre for Financial Studies and spent eight months as a visiting scholar at the Institute of Economics at Academia Sinica, Taiwan. Her research focuses on inter-organizational relationships and networks in financial sector. She is also interested in institutional economics and its applications on transition and developing countries, in particular China. She currently participates in the research project focusing on governance in network economies at the Institute for Management Research in Nijmegen.