Liang Han

Liang Han
University of Reading · Business Informatics, Systems and Accounting (BISA)

About

34
Publications
4,639
Reads
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642
Citations
Citations since 2017
16 Research Items
481 Citations
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2017201820192020202120222023020406080100120
2017201820192020202120222023020406080100120
2017201820192020202120222023020406080100120

Publications

Publications (34)
Article
Full-text available
Using an unbalanced panel dataset that contains financial information of 46,340 small and medium-sized enterprises (SMEs) across 11 European countries over 2007–2015, this study examines the impacts of soundness of institutional factors on SME financial reporting quality as (inversely) reflected by the degree of earnings management. We consider a c...
Article
Full-text available
Despite being informationally opaque, small firms often switch from their primary financial institution to transactional lenders, with the relationship banking theory invoking the holdup problem as a culprit explanation. Using US evidence and an estimation strategy that overcomes traditional shortcomings in small business research, our study captur...
Article
Full-text available
This article explores the culture-regulations-gender triad in relation to SMEs’ performance. Using a firm-level panel dataset drawn from 27 countries in Central and Eastern Europe and Central Asia between 2005 and 2014, we show that women and men experience and respond differently to regulations. Women take regulations very seriously and as a resul...
Article
Full-text available
We produce the first systematic study of the determinants and implications of in-person banking. Using survey data from the U.S., we show that firms which are informationally opaque or operate in rural areas are liable to contact their primary bank in-person. This tendency extends to older, less educated, and female business owners. We find that a...
Article
This paper proposes a hybrid demand response mechanism considering three types of participants: power grid operator (PGO), retailers and end users. Different from the traditional price-based or incentive-based methods, this hybrid mechanism combines real-time pricing and real-time incentive together to implement demand response programs dispatched...
Article
We study the impacts of the use of trade credit on SME financial performance and operational distress in a sample of 74,036 SMEs across 19 EU countries between 2006 and 2015. Under the premise that trade credit acts as a substitute for bank credit, our results show that supplying trade credit improves profitability, but we show little evidence that...
Chapter
Existing evidence has shown that SMEs make great contributions to innovation, job creation and economic growth. This chapter reviews recent literature on (1) the important roles played by SMEs in emerging markets and (2) the impacts of financial development on SME finance in such markets. It also uses a unique database form World Bank Enterprise Su...
Article
Despite the plentiful debate on the effects of bank competition on SME access to finance and growth, only few studies have explored the impacts on SME cost of debt. This study examines how bank market power affects the credit costs of SMEs by using unique matched SME-bank data from 17 EU countries. We show that bank market power reduces the cost of...
Article
Full-text available
Complementary to rich existing evidence on bank competition and corporate innovation, this paper aims to investigate the impacts of bank competition on innovation efficiencies, in terms of both R&D input and output at firm level. By acknowledging the role played by information asymmetries in financing innovation, we also examine the moderating effe...
Article
Full-text available
This paper investigates the ‘price–concentration’ relationship in pricing syndicated loans. By measuring bank concentration at a state level in US, we show supporting evidence to market power hypothesis that syndicated loan prices are positively associated with the concentration of both borrower’s and lead arranger’s markets but not the concentrati...
Article
Using unique matched data on SME-bank relationships from 19 European countries, we examine the effects of bank-level market power on SME finance. We show novel evidence that bank market power at disaggregate level reduces SMEs’ access to bank finance and worsens their credit constraints. Whilst, banking market concentration improves credit supply t...
Article
Full-text available
We apply a structural model to estimate firm-level default risk in China and investigate the stock return predictability of default risk and the moderating effects of state ownership for the sample period from 2003 to 2015. We show unique evidence that in China, default risk is positively associated with expected stock returns and state ownership m...
Article
Full-text available
This paper aims to fill in a research gap in the effects of bank competition on corporate innovation. In addition to the evidence on the favorable effects of bank competition on corporate innovation, this paper shows novel evidence on the substitution effects of bank competition in a wider region and neighbor-state to local bank competition in fina...
Article
Existing evidence has shown that SMEs make great contributions to innovation, job creation and economic growth. This chapter reviews recent literature on (1) the important roles played by SMEs in emerging markets and (2) the impacts of financial development on SME finance in such markets. It also uses a unique database form World Bank Enterprise Su...
Article
Supporting the “conflicts of interest hypothesis,” we show that, in China, better-informed analysts issue more optimistically biased forecasts and the reputation of financial analysts mitigates the bias. We contribute to the literature by showing that such an adverse information effect varies over types of investment banking relationships and a bet...
Article
This paper investigates birth order effects on adult self-employment. Drawing on Sulloway's ‘born to rebel’ thesis, we test whether or not last-borns whose parents have no prior self-employment experience are more likely to bear and assume the risks associated with self-employment. We also test if parental self-employment experience moderates the r...
Article
This article examines two contrasting interpretations of how bank market concentration (Market Power Hypothesis) and banking relationships (Information Hypothesis) affect three sources of small firm liquidity (cash, lines of credit, and trade credit). Supportive of a market power interpretation, we find that in a highly concentrated banking market,...
Article
Purpose – This paper aims to make a comparison, different from existing literature solely focusing on voluntary earnings forecasts and ex post earnings surprise, between the effects of mandatory earnings surprise warnings and voluntary information disclosure issued by management teams on financial analysts in terms of the number of followings and t...
Article
This paper uses a panel data-fixed effect approach and data collected from Chinese public manufacturing firms between 1999 and 2011 to investigate the impacts of business life cycle stages on capital structure. We find that cash flow patterns capture more information on business life cycle stages than firm age and have a stronger impact on capital...
Article
Highlights ► We examine if testosterone is associated with self-employment. ► We explicitly control for omitted variable bias by using an instrumental variable approach. ► Our results show that there is a positive association between testosterone and self-employment. ► We find that an increase in total testosterone by a standard deviation increases...
Article
Within the phenomenon of entrepreneurship, the extant literature suggests that the normative actor is embodied by and through stereotypical masculinized characteristics. In this paper, we contextualize entrepreneurship as self‐employment in order to explore how such stereotypical characterizations might influence women's attitudes toward this activ...
Article
This article examines an under-investigated area in relationship banking, i.e. the use of bank advice and support and its impacts on the financial conditions of small and medium-sized enterprises (SMEs). The findings indicate that the characteristics of businesses and entrepreneurs, among other factors, have determinant effects on the use of bank s...
Article
This article reviews literature on the important role played by asymmetric information in entrepreneurial finance from two perspectives: asymmetric information and relationship lending, and the theoretical modeling of asymmetric information. Then it examines the relationship between capital market conditions and entrepreneurial finance and attempts...
Article
This paper examines the phenomenon of 'entrepreneurial failure' from a UK regionally-based qualitative study, being that of explanations for failure provided by entrepreneurial CEOs. This paper contends that there are valuable lessons to be learned, from explanations provided of failure, that may reduce the very high recorded mortality rates of ent...
Article
Existing literature has paid considerable attention to the effects of supporting programmes on the survival and performance of small and medium-sized enterprises (SMEs), but it lacks a deep understanding of the benefits of the use of such assistance and the factors influencing the evaluation of such services from the perspective of SMEs. We examine...
Article
Previous research has suggested collateral has the role of sorting entrepreneurs either by observed risk or by private information. In order to test these roles, this paper develops a model which incorporates a signalling process (sorting by observed risk) into the design of an incentive-compatible menu of loan contracts which works as a self-selec...
Article
Full-text available
This paper takes the concept of a discouraged borrower originally formulated by Kon and Storey [Kon, Y., Storey, D.J., 2003. A theory of discouraged borrowers. Small Business Economics 21, 37–49] and examines whether discouragement is an efficient self-rationing mechanism. Using US data it finds riskier borrowers have higher probabilities of discou...
Article
This article examines the determinants of concentration of creditors. The empirical evidence drawn from this article supports the proposition of Bolton and Scharfstein (19967. Bolton , P and Scharfstein , DS . 1996. Optimal debt structure and the number of creditors. Journal of Political Economy, 104: 1–25. [CrossRef], [Web of Science ®]View all...
Article
Purpose Little research has been conducted on the effects of information technology on financing entrepreneurial businesses or small and medium sized enterprises (SMEs). The purpose of this paper is to examine the impacts of entrepreneurial online banking and relationship banking on the severity of financial problems perceived by entrepreneurs and...
Article
Purpose – The purpose of this paper is to examine both the characteristics of the business customers and the types of venture which make use of online loan applications. Despite the growth in the use of technology in banking and the advent of online banking, little research has been conducted on the factors underlying online loan application behavi...
Article
This paper develops Bester's (1985) model by incorporating a signalling process into the design of an incentive-compatible menu of contracts which works as a self-selection mechanism. It then tests this Signalling and Self-Selection Model, using the 1998 U.S. Survey of Small Business Finances. It reports for the first time that high type entreprene...

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