Webinar Series

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Capital Market Development: China and Asia

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Apr 2021

Going Bankrupt in China

Bo LI, Jacopo PONTICELLI
Using a new case-level dataset, we document a set of stylized facts on bankruptcy in China and study how the staggered introduction of specialized courts across Chinese cities affected insolvency resolution and the local economy. For identification, we compare bankruptcy cases handled by specialized...
Keywords: Specialized courts, Political influence, Court efficiency, Zombie firms
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Webinar Series

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Capital Market Development: China and Asia

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Mar 2021

The SOE Premium and Government Support in China's Credit Market

Jun PAN, Zhe GENG
Studying China’s credit market, we find improved price efficiency and paradoxically, worsening segmentation as, amid government-led credit tightening, perceived government support for state-owned enterprises (SOEs) causes the credit spreads of non-SOEs to explode relative to their SOE counterparts...
Keywords: SOE Premium, Government Support, Credit Risk, Price Discovery, Chinese Corporate Bond
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Specialty Conference

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Specialty Conference

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Sep 2020

Crowdfunding for Infrastructure Project Financing: Lesson Learned for Asian Countries

Nika PRANATA, Nur FIRDAUS, Erla MYCHELISDA, Achsanah HIDAYATINA
Infrastructure plays a pivotal role in national development. However, financing infrastructure projects becomes a major hurdle as it is often considered unbankable, high risk, and requires a long payback period. The use of crowdfunding as an alternative source for infrastructure project financing is...
Keywords: Crowdfunding, blended finance, commercial infrastructure financing
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Specialty Conference

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Specialty Conference

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Sep 2020

Fintech Peer to Peer Lending as Approach to Encourage Economic Inclusion for Rural Communities in Indonesia

Nor ANISA
The paper aims to explain the use of Peer to Peer Lending-based fintech as a platform in creating economic productivity in Rural Areas in Indonesia. Peer to Peer Lending to suppress economic and social inequalities for people who are far from urban access. As for the background of this writing becau...
Keywords: Peer to Peer Lending, Rural Communities in Indonesia, Inclusive Financial, Productivity Economy
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Specialty Conference

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Specialty Conference

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Sep 2020

FinTech Platform and Mutual Fund Distribution

Claire Yurong HONG, Xiaomeng LU, Jun PAN
This paper studies the economic impact of the emergence of FinTech platforms on financial intermediation. In China, platform distributions of mutual funds emerged in 2012 and grew quickly into a formidable presence. Utilizing the staggered fund entrance onto platforms, we find markedly increased flo...
Keywords: Mutual Funds, Platforms, FinTech, Flow-Performance Sensitivity
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