Search

Social financing scale is an important indicator reflecting financial services to the real economy. This paper uses the VAR model to explore the dynamic relationship between the ranks of listed companies and the scale of social financing. The empirical results show that: There is a long-term equilibrium relationship between the number of listed companies and the scale of social financing, which can boost the expansion of the scale of social financing, but the expansion of the ranks of listed companies has no obvious effect on the immediate boost of the scale of social financing. The “increase in the number” of listed companies in China may imply “low quality”. The number of listed companies has a delayed effect on the scale of social financing. In the long run, the expansion of the ranks of listed companies does.