Research on the Impact of Macroeconomic Factors on Equity Pledge Financing Risks
Since 2018,there has been a surge in equity pledge financing risks,causing significant harm to many financial institutions.A VAR model constructed using quarterly data from 2014 to 2022 revealed that these risks are influenced by both the credit cycle and stock market cycle.The study also found that an increase in equity pledge financing helps mitigate judicial freezes on equity,while a short-term rise in the Shanghai and Shenzhen 300 Index slightly alleviates such freezes.However,in the long run,it contributes to an increase in judicial freezes on equity.The concerted efforts of financial institutions,investors,and regulatory policies play a crucial role in effectively managing the risks associated with equity pledge financing.
NETL
NSTL
万方数据
维普
