Study on the impact of shadow banking business of non-financial enterprises on enterprise risk-taking:From the perspective of external shock
Recently,non-financial enterprises continue to participate in the shadow banking business and gradually become the main body of the shadow banking field.In order to further explore the relationship between enterprise shadow banking business and risk-taking,this paper selects the non-financial listed enterprises in Shanghai and Shenzhen A-share markets of China from 2007 to 2022 as the research object,discusses the impact of external shocks on the shadow banking business and risk-taking of enterprises,and considers the differences in the nature of property rights.The empirical results indicate that:external shocks will inhibit the positive impact of non-financial firms'shadow banking business on risk taking;compared with state-owned enterprises,the impact of external shocks on non-state-owned enterprises is more significant.The research not only expands the research on shadow banking business and enterprise risk-taking,but also has important implications for the decision-making of governments and enterprises.
shadow banking businessrisk-takingproperty right natureexternal shocknon-financial enterprises
NETL
NSTL
万方数据
