The Role of Xinyong in the External Financing Performance

摘要：

This paper seeks to illustrate the role of Xinyong in external financing performance of firms in clusters and to explore how Xinyong reduces the information asymmetry between banks and firms to help family firms get good external financing performance. Using survey data from a sample of 194 firms from Yangtze River Delta region, we demonstrate that Xinyong has a positive impact on financing efficiency. Further, institutional support positively moderates the link between Xinyong and external financing efficiency. Theoretical and managerial implications are discussed.

作者: Lan WANG

作者单位: School of International Business Beijing Language and Culture University, Beijing, P.R.China, 100083

会议类型: 国际会议

会议名称: International Conference on Management and Service Science(2011年第五届管理与服务科学国际会议 MASS 2011)

会议地点: 武汉

会议语种:英文

页码: 1-4

在线出版日期: 2011-08-12（万方平台首次上网日期，不代表论文的发表时间）