金融发展、商业信用与产品市场竞争

发布时间：2018-01-19 03:35

本文关键词： 金融发展市场竞争银行信用商业信用私有企业　出处：《管理世界》2010年08期 　论文类型：期刊论文

【摘要】：商业信用的竞争假说认为,企业向客户提供商业信用可以锁定客户,避免客户转向同行业竞争对手。本文以2004～2007年中国工业企业数据库为样本证明了商业信用的竞争假说,而且发现,由于私有企业面临的市场竞争压力大于国有企业,所以私有企业比国有企业更多地以商业信用作为产品市场竞争手段。进一步的研究发现,这种效应主要发生在金融发展较好的地区,而在金融发展较差的地区,私有企业与国有企业的商业信用竞争并没有显著差异。这是因为,在金融发展较好(较差)的地区,私有企业易于(难以)在市场化的条件下获得银行信用,进而有较多(较少)的资金来源用于提供商业信用。本文一方面从企业所有权性质和金融发展的角度拓展和深化了商业信用的竞争假说;另一方面从金融发展提高私有企业竞争力的视角,为我国金融体系通过何种具体渠道促进企业发展和经济增长提供了一种可能的解释。
[Abstract]:The competitive hypothesis of commercial credit is that enterprises can lock in customers by providing them with commercial credit. To avoid customers turning to competitors in the same industry. This paper takes China Industrial Enterprise Database from 2004 to 2007 as a sample to prove the competition hypothesis of commercial credit, and find out. Because private enterprises face more market competition pressure than state-owned enterprises, private enterprises more than state-owned enterprises to take commercial credit as a means of product market competition. Further research found. This effect mainly occurs in areas with better financial development, but in areas with poor financial development, there is no significant difference between private enterprises and state-owned enterprises in the competition of commercial credit. In the areas where the financial development is relatively good (poor), private enterprises are easy (difficult) to obtain bank credit under the condition of marketization. Then there are more (less) sources of funds to provide commercial credit. On the one hand, this paper expands and deepens the competitive hypothesis of commercial credit from the perspective of the nature of enterprise ownership and financial development; On the other hand, from the perspective of financial development to improve the competitiveness of private enterprises, it provides a possible explanation for the specific channels through which the financial system promotes the development of enterprises and economic growth.
【作者单位】：武汉大学经济与管理学院;
【基金】：国家自然科学基金项目(批准号:70602013、70972090和70902052)的资助
【分类号】：F832;F272;F224
【正文快照】： 一、引言商业信用是企业销售产品时延期收取货款而提供给客户的信用。无论是在发达国家还是发展中国家，企业都普遍为客户提供商业信用(Rajan and zingales，，1995:petersen and Rajan，1997;Demirgue一Kunt and Maksimovie，2001;Fisman and Love，2003;Love et al.，2007)，

【参考文献】