AsianFA: Off-Balance Sheet Securitization, Bank Lending, and Corporate Innovation

Zhaoxia Xu    Yiwei Dou, Zhaoxia Xu
31 May 2018
Categories: Accounting, Accounting Policy, Financial Policy, Regulation, Regulatory changes, Corporate Finance

Country or region: Asia Pacific (Overall)

We investigate how corporate innovation is influenced by banks' off-balance sheet securitization. Exploiting a recent mandate that removes the off-balance sheet status of some securitized assets, we find a reduction in innovation for firms  borrowing from affected banks. The reduction is concentrated among firms whose banks experience more downward pressure ......

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