This paper utilizes A-share data from listed companies on the Chinese stock market from 2003 to 2020 to examine the impact of discriminatory credit and factor allocation efficiency on corporate economic performance.The findings reveal:(1)Discriminatory credit negatively affects corporate eco-nomic performance.(2)A significant positive correlation exists between factor allocation efficiency and corporate economic performance.(3)Discriminatory credit induces misallocation of resources and fur-ther reduces the efficiency of corporate factor allocation,resulting in a decrease in total factor productivi-ty and a decline in corporate economic performance.Further investigations indicate the presence of own-ership disparities in discriminatory credit.The impact of discriminatory credit and factor allocation effi-ciency on corporate economic performance also exhibits spatial distribution differences,with the eastern and central regions aligning with the outcomes of the full-sample estimation,while the western region di-verging from these results.
NETL
NSTL
万方数据
