Research Seminar | What happens to listed firms after they obtain costly shadow loans?
You are cordially invited to attend a research seminar organised by the Bachelor of Arts (Honours) in Personal Finance Programme (BA(PF)) and the Master of Arts in Personal Finance Education Programme (MAPFE). Details of the seminar are as follows:
What happens to listed firms after they obtain costly shadow loans?
| Date: | July 3 (Thu), 2025 |
|---|---|
| Time: | 10:30 – 12:00 (HKT, GMT+8) |
| Speaker: | Professor Sushanta Mallick Professor of International Finance Queen Mary University of London |
| Convenor: | Dr. TAN Weiqiang Programme Leader, Bachelor of Arts (Honours) in Personal Finance |
| Language: | English |
| Venue: | D3-LP-05 |
| Registration: | Register here |
Speaker’s Biography:
Sushanta Mallick is a Professor of International Finance at the School of Business and Management, Queen Mary University of London, UK. His research focuses on international economics, banking & finance, and innovation & development. According to the IDEAS/RePEc rankings, he is among the top 5% of economists globally. He has recently been appointed as Managing Editor of Oxford Economic Paper. Professor Mallick’s research work has been featured in numerous high-impact and peer-reviewed journals.
Abstract:
Despite the recent proliferation of shadow loans to listed firms globally, their impact on firm outcomes is yet to be fully explored. This paper uses a loan transactions dataset from China to identify firms that use shadow loans excessively. Using a staggered Difference-in-Differences (DID) approach, we show that shadow-bank firms experience a higher default probability and lower profitability, productivity, investment, and employment growth after acquiring shadow loans. However, more productive and technology-intensive firms do not face similar adverse outcomes after obtaining such loans.
For enquiries, please contact Mr. Liu at llinrui@eduhk.hk. We look forward to your participation.