金融发展因素对上市公司银行信贷融资的影响研究

发布时间：2018-02-26 11:29

本文关键词： 金融发展因素银行信贷融资产权性质　出处：《湖南农业大学》2012年硕士论文　论文类型：学位论文

【摘要】：改革开放以来,我国金融体系进行了一系列的变革,在这一过程中,我国信贷资金投放总量快速增长,但由于我国各地区间地理位置、资源禀赋的不同导致各地区间金融发展水平存在着较大差异,因此企业所处的外部融资环境也随之发生了较大的变化。基于这一背景,本文考察了金融发展因素对我国上市公司银行信贷融资决策的影响；并将所选样本公司按产权性质的不同分为国有上市公司和非国有上市公司,进一步分析了不同产权性质下,金融发展因素对我国上市公司银行信贷融资决策的影响。本文研究结果表明：(1)金融发展水平越高,上市公司的银行贷款规模越小,贷款期限越短；(2)随着金融发展水平的提高,非国有上市公司较国有上市公司的贷款规模和贷款期限与金融发展水平之间的负相关关系会有更大程度地减弱；(3)随着金融发展水平逐年的提高,上市公司银行信贷规模与金融发展水平的负相关关系减弱；(4)金融发展有利于规模较小的公司获得银行贷款和长期借款；(5)金融发展有利于拥有较少抵押资产的公司获得银行贷款；(6)金融发展有利于成长性较低的公司获得长期借款；(7)金融发展有利于盈利能力较低的上市公司获得短期借款。这些研究结论从公司外部宏观金融环境的角度为金融发展对我国企业银行信贷融资决策的影响提供了经验证据,并为地方政府建设和发展当地金融市场提供借鉴。
[Abstract]:Since the reform and opening up, China's financial system has undergone a series of changes. In this process, the total amount of credit funds in our country has increased rapidly, but due to the geographical location of various regions in our country, The difference of resource endowment leads to great differences in the level of financial development among different regions, so the external financing environment in which the enterprise is located has also undergone great changes. This paper investigates the influence of the financial development factors on the credit financing decision of the listed companies in China, and divides the selected sample companies into state-owned listed companies and non-state-owned listed companies according to the nature of property rights, and further analyzes the different properties of the listed companies. The influence of Financial Development factors on Bank Credit financing decision of listed companies in China. The result of this paper shows that the higher the level of financial development, the smaller the scale of bank loans of listed companies, the shorter the term of loans.) with the improvement of financial development level, Compared with the state-owned listed companies, the negative correlation between the loan size and the loan duration and the financial development level of the non-state-owned listed companies will weaken to a greater extent) with the increase of the financial development level year by year, Negative correlation between Bank Credit size and Financial Development level of listed companies (4) Financial development is good for smaller companies to obtain bank loans and long-term loans. Financial development is good for companies with less mortgage assets. Financial development is good for companies with low growth rate to obtain long-term loans.) financial development is good for listed companies with low profitability to obtain short-term loans. These conclusions are derived from the external macro-financial environment of the company. It provides empirical evidence for the influence of the financial development on the credit financing decision of the enterprise banks in China. And for local governments to build and develop local financial markets to provide reference.
【学位授予单位】：湖南农业大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F275;F832.4

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