Display:
Sort By:

Webinar Series

|

Capital Market Development: China and Asia

|

Oct 2021

A binding interest rate cap on household savings is a common form of financial repression in developing economies and typically benefits banks. Using proprietary data from a leading Chinese FinTech company, we study Fintech's role in ending financial repression in China through the introduction of a...
Keywords: FinTech, bank deposits, money market fund, financial repression, interest rate liberalization
  • View
  • Download
  • Bookmark
  •    |   

Webinar Series

|

Capital Market Development: China and Asia

|

Oct 2021

Using comprehensive account-level data from 2016 to 2019, we examine retail investor trading behavior in the Chinese stock market. We separate millions of retail investors into five groups by their account sizes and document strong heterogeneity in their trading dynamics and performance. Retail inve...
Keywords: retail investors, Chinese stock market, return predictability, liquidity, information content
  • View
  • Download
  • Bookmark
  •    |   

Webinar Series

|

Capital Market Development: China and Asia

|

Sep 2021

The use of massive amounts of data by large technology firms (big techs) to assess firms’ creditworthiness could reduce the need for collateral in solving asymmetric information problems in credit markets. Using a unique dataset of more than 2 million Chinese firms that received credit from both a...
Keywords: asymmetric information, Banks, big data, big tech, Collateral, credit markets
  • View
  • Download
  • Bookmark
  •    |   

Webinar Series

|

Capital Market Development: China and Asia

|

Aug 2021

We use administrative registration records with information on the owners of all Chinese firms to document the importance of “connected” investors, defined as state-owned firms or private owners with equity ties with state-owned firms, in the businesses of private owners. We document a hierarchy...
Keywords: joint venture, equity, investments, private owners, state-owned firms
  • Download
  • Bookmark
  •    |   

Webinar Series

|

Capital Market Development: China and Asia

|

Jul 2021

We study how consumer spending responds to digital payments, using the differential switch to digital payments across consumers induced by the sudden 2016 Indian Demonetization for identification. Usage of digital payments rose by 3.38 percentage points and monthly spending increased by 3% for an ad...
Keywords: digital payments, financial technology, Consumption, India, Demonetization
  • View
  • Download
  • Bookmark
  •    |