Bank Competition,Financing Constraints,and Corporate Cash Dividend Distribution——Evidence Based on Geographical Distribution of Bank Branches
This paper examines the relationship between bank competition and corporate cash dividend distribution among non-financial listed companies in China during 2006-2020.Research has found that competition in the banking industry can significantly enhance a company's willingness and level of cash dividend distribution,and financing constraint is an important channelfor bank competition to affect a company's cash dividend distribution.The development of financial technology has made the impact of bank competition on cash dividend distribution of enterprises more significant,and this impact is even stronger in enterprises without bank-enterprise association and non-state-owned enterprises.
bank competitionfinancial constraintfinancial technologycash dividend
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