Debt Financing Cost and Credit Discrimination on Private Listed Firms
基于民营上市公司样本，从债务融资成本角度研究信贷歧视，发现民营化后企业债务融资成本上升，且相比非民营企业显著更高，近年歧视未缓解。
Based on the sample of listed private firms, this paper investigates credit discrimination on private firms from the debt financing cost aspect This paper finds that the debt financing cost of listed firms increases after their privatizations. Cross-sectional data shows that private listed firms have to bear much higher debt fi- nancing cost compared with non-private listed firms. The differences also have economic significance. Besides, there is not any tendency that credit discrimination on private firms has mitigated in recent years.