Abstract Based on the sample of SZSE A-share listed firms during 2007 to 2017, from the perspective of different creditors, this paper examines the impact of the quality of corporate information disclosure on commercial credit financing and bank loan. And it studies in the context of the rising of economic policy uncertainty, how the impact changes. The results show that the firms of higher quality of information disclosure can get more commercial credit when financing needs are constant, but bank loan that is insensitive to information decreases when the quality of information disclosure is higher. It is more remarkable for firms with lower financing restriction. In addition, economic policy uncertainty weakens the positive impact of information disclosure on commercial credit financing, and it adds to the negative impact of information disclosure on bank loan. It is more remarkable for firms in areas where financial intermediaries are more developed.
LIU Huihao,FENG Yongjia. Economic Policy Uncertainty,Corporate Information Disclosure and Debt Financing——Based on the Perspective of Different Creditors. Economic Survey, 2020, 37(1): 0140.
2020, Vol. 37 
