Hong Kong Export Credit Insurance Corporation

Outward Foreign Direct Investment (OFDI) is one of the important channels for companies to coordinate R&D resources at home and abroad, and it will contribute to implementing the innovation driven strategy. Based on the provincial panel data from 2009 to 2016, this paper examines the impact of OFDI

Using the data of China’s A-shares listed companies from 2007 to 2017, this study found that there are significant differences between state-owned enterprises and private enterprises in terms of credit allocation scale, credit term structure, and credit financing cost. Compared with state-owned enterprises, private enterprises have smaller credit allocation scale, shorter credit term, and higher financing cost. Monetary policy has a significant impact on the differences; in which loose monetary policy will aggravate the financing difference between private enterprises and state-owned enterprises, while tight monetary policy will narrow the difference.