近日，我院陈肖雄博士及郑州大学硕士研究生穆靖昊、中山大学刘贯春教授、广东外语外贸大学刘媛媛副教授合作撰写的论文“Bank liability structure and corporate employment: Evidence from a quasi-natural experiment in China”在期刊International Review of Financial Analysis在线发表。International Review of Financial Analysis是财政与金融领域的高质量学术期刊，同时位于经济学大类、商业领域、财政与金融领域Q1区（亦是中科院期刊分区一区），最新影响因子7.5。

全文引用：

Chen, X., Mu, J., Liu, G., and Liu, Y. (2024). Bank liability structure and corporate employment: Evidence from a quasi-natural experiment in China. International Review of Financial Analysis, 95, 103366.

中文摘要

论文研究了银行负债结构如何影响企业劳动雇佣决策。为了识别二者因果关系，我们将2014年对全国性银行和地区性银行产生不同影响的同业资金业务监管改革视为外生冲击，并构建了企业受该改革影响程度的指标，然后进行了双重差分回归。结果显示，银行存款占比的增加显著促进了企业劳动雇佣，企业员工总数平均增加了4.4%。通过进一步机制检验发现，存款占比提升促进了银行信贷供给，企业银行信贷获取随之增加，从而缓解了企业面临的信贷约束。异质性分析表明，上述银行负债结构提高对企业劳动雇佣的促进效应在融资约束强、信息披露质量高和劳动密集型企业更为凸显。此外，进一步研究发现：企业的员工结构和支付给员工的平均工资没有发生变化，但企业的生产率和生产规模有显著提高。总之，本文研究结论证实了监管银行同业资金对稳定社会就业的积极作用。

英文摘要

We examine how bank liability structure affects firms’ hiring decisions. To identify causality, we utilize the 2014 interbank borrowing reform that has different impacts on national and regional banks as an exogenous shock. Particularly, we construct the exposure of firms to this reform and then run a difference-in-differences regression. The results show that an increase in banks’ deposit funds promotes corporate employment, and the number of total employees on average increases by 4.4%. Further mechanism tests find that banks provide more loans and firms obtain more access to bank credit, confirming the credit constraints channel. Moreover, the corporate employment promotion effect is stronger when financial constraints, information disclosure quality and labor intensity are higher. In addition, firms’ employee composition and average wage paid to workers do not change, while their productivity and production scale increase. Overall, our evidence highlights the active role of regulating banks’ interbank borrowing in stabilizing social employment.

文章链接：

      https://www.sciencedirect.com/science/article/abs/pii/S1057521924002989