{"id":"https://openalex.org/W2962015652","doi":"https://doi.org/10.1080/20954816.2019.1633825","title":"The regulatory arbitrage and window dressing in shadow banking: the example of Chinese wealth management product","display_name":"The regulatory arbitrage and window dressing in shadow banking: the example of Chinese wealth management product","publication_year":2019,"publication_date":"2019-07-03","ids":{"openalex":"https://openalex.org/W2962015652","doi":"https://doi.org/10.1080/20954816.2019.1633825","mag":"2962015652"},"language":"en","primary_location":{"id":"doi:10.1080/20954816.2019.1633825","doi":"https://doi.org/10.1080/20954816.2019.1633825","is_oa":false,"landing_page_url":"https://doi.org/10.1080/20954816.2019.1633825","pdf_url":null,"source":{"id":"https://openalex.org/S4210192771","display_name":"Economic and Political Studies","issn_l":"2095-4816","issn":["2095-4816","2470-4024"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economic and Political Studies","raw_type":"journal-article"},"parent_works":[],"lineage":["https://openalex.org/W2962015652"],"child_works_count":0,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5112121927","display_name":"Jinghan Cai","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I124113063","display_name":"University of Scranton","ror":"https://ror.org/05xwb6v37","country_code":"US","type":"education","lineage":["https://openalex.org/I124113063"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jinghan Cai","raw_affiliation_strings":["Kanis School of Management, University of Scranton, Scranton, PA, USA;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kanis School of Management, University of Scranton, Scranton, PA, USA;","institution_ids":["https://openalex.org/I124113063"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5000514546","display_name":"Alicia Garc\u00eda-Herrero","orcid":"https://orcid.org/0000-0003-4916-7293","observed_orcids":["https://orcid.org/0000-0003-4916-7293"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Alicia Garc\u00eda-Herrero","raw_affiliation_strings":["Natixis S.A, Hong Kong SAR, China;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Natixis S.A, Hong Kong SAR, China;","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101779909","display_name":"Fengyun Li","orcid":"https://orcid.org/0000-0003-2534-7310","observed_orcids":["https://orcid.org/0000-0003-2534-7310"]},"institutions":[{"id":"https://openalex.org/I78988378","display_name":"Renmin University of China","ror":"https://ror.org/041pakw92","country_code":"CN","type":"education","lineage":["https://openalex.org/I78988378"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Fengyun Li","raw_affiliation_strings":["School of Finance, Renmin University of China, Beijing, China;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Finance, Renmin University of China, Beijing, China;","institution_ids":["https://openalex.org/I78988378"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5031549666","display_name":"Le Xia","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Xia Le","raw_affiliation_strings":["BBVA Research, Hong Kong SAR, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"BBVA Research, Hong Kong SAR, China","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5101779909"],"corresponding_institution_ids":["https://openalex.org/I78988378"],"apc_list":null,"apc_paid":null,"fwci":3.576,"has_fulltext":false,"cited_by_count":15,"citation_normalized_percentile":{"value":0.92271342,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"7","issue":"3","first_page":"314","last_page":"336"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9639000296592712,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9639000296592712,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14154","display_name":"finance, banking, and market dynamics","score":0.011300000362098217,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.004100000020116568,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/shadow-banking","display_name":"shadow banking","score":0.8579999804496765},{"id":"https://openalex.org/keywords/wealth-management-products","display_name":"wealth management products","score":0.9620000123977661},{"id":"https://openalex.org/keywords/regulatory-arbitrage","display_name":"regulatory arbitrage","score":0.9750000238418579},{"id":"https://openalex.org/keywords/window-dressing","display_name":"window dressing","score":0.9869999885559082},{"id":"https://openalex.org/keywords/loan-to-deposit-ratio","display_name":"loan to deposit ratio","score":0.9259999990463257}],"concepts":[{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.6291782855987549},{"id":"https://openalex.org/C160623529","wikidata":"https://www.wikidata.org/wiki/Q273088","display_name":"Arbitrage","level":2,"score":0.5927936434745789},{"id":"https://openalex.org/C101433766","wikidata":"https://www.wikidata.org/wiki/Q3543263","display_name":"Maturity (psychological)","level":2,"score":0.555797815322876},{"id":"https://openalex.org/C117797892","wikidata":"https://www.wikidata.org/wiki/Q286363","display_name":"Shadow (psychology)","level":2,"score":0.546593964099884},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5309832692146301},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.43694883584976196},{"id":"https://openalex.org/C90673727","wikidata":"https://www.wikidata.org/wiki/Q901718","display_name":"Product (mathematics)","level":2,"score":0.4311484098434448},{"id":"https://openalex.org/C18762648","wikidata":"https://www.wikidata.org/wiki/Q42213","display_name":"Work (physics)","level":2,"score":0.42129001021385193},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.39411693811416626},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.35125958919525146},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3505818247795105},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.34226638078689575},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3374154567718506},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.09066697955131531},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.085500568151474},{"id":"https://openalex.org/C138496976","wikidata":"https://www.wikidata.org/wiki/Q175002","display_name":"Developmental psychology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C542102704","wikidata":"https://www.wikidata.org/wiki/Q183257","display_name":"Psychotherapist","level":1,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/20954816.2019.1633825","doi":"https://doi.org/10.1080/20954816.2019.1633825","is_oa":false,"landing_page_url":"https://doi.org/10.1080/20954816.2019.1633825","pdf_url":null,"source":{"id":"https://openalex.org/S4210192771","display_name":"Economic and Political Studies","issn_l":"2095-4816","issn":["2095-4816","2470-4024"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Economic and Political Studies","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:repsxx:v:7:y:2019:i:3:p:314-336","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/20954816.2019.1633825","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":10,"referenced_works":["https://openalex.org/W63781366","https://openalex.org/W1500877880","https://openalex.org/W1998360039","https://openalex.org/W2076675469","https://openalex.org/W2124758339","https://openalex.org/W2171859038","https://openalex.org/W2954293208","https://openalex.org/W3121218628","https://openalex.org/W3126116310","https://openalex.org/W4254090008"],"related_works":["https://openalex.org/W3166537377","https://openalex.org/W6903638103","https://openalex.org/W2279699604","https://openalex.org/W3108660746","https://openalex.org/W4392104063","https://openalex.org/W4206585565","https://openalex.org/W3160689569","https://openalex.org/W4396767928","https://openalex.org/W7161369006"],"abstract_inverted_index":{"We":[0,89],"document":[1,91],"that":[2,92,122],"in":[3,73,87],"China":[4],"the":[5,16,26,29,48,59,66,71,93,98,117],"maturity":[6],"dates":[7],"of":[8,18,28,50,58,111],"bank-issued":[9],"wealth":[10],"management":[11],"products":[12],"(WMPs)":[13],"cluster":[14],"toward":[15],"end":[17],"a":[19,36,40,82],"month":[20],"and":[21,47,65,108],"then":[22],"decrease":[23],"significantly":[24],"at":[25,45],"beginning":[27],"following":[30],"month.":[31],"Our":[32,119],"empirical":[33],"work":[34],"detects":[35],"negative":[37,67],"relationship":[38,68],"between":[39],"bank\u2019s":[41],"loan-to-deposit":[42],"ratio":[43],"(LDR)":[44],"month-ends":[46,104],"number":[49],"its":[51],"issued":[52],"WMPs":[53,100,113,129],"expiring":[54],"within":[55],"several":[56],"days":[57],"month-end.":[60],"Moreover,":[61],"this":[62,109],"WMP":[63],"clustering":[64,110],"disappear":[69],"after":[70,116],"reform":[72],"which":[74],"regulators":[75],"bring":[76],"up":[77],"measures":[78],"for":[79,132],"banks":[80,94,123],"with":[81],"high":[83],"deposit":[84],"deviation":[85],"degree":[86],"2014.":[88],"also":[90,114],"tend":[95],"to":[96,101,105],"arrange":[97],"high-return":[99,112],"expire":[102],"around":[103],"attract":[106],"customers,":[107],"disappears":[115],"reform.":[118],"findings":[120],"suggest":[121],"actively,":[124],"rather":[125],"than":[126],"passively,":[127],"use":[128],"as":[130],"vehicles":[131],"their":[133],"regulatory":[134],"arbitrage":[135],"or":[136],"window":[137],"dressing":[138],"behaviours.":[139]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":2}],"updated_date":"2026-11-14T11:04:58.165337","created_date":"2019-07-23T00:00:00"}
