银行业市场化改革、盈余质量和贷款合约

发布时间：2018-06-09 15:18

本文选题：盈余质量 + 贷款合约　；参考：《广东商学院》2012年硕士论文

【摘要】：银行信贷融资是企业重要的资金来源，一直以来会计信息在银行信贷决策中都发挥着重要作用，其中盈余信息又是银行信贷决策的一个重要参考变量。与股权资本成本不同的是，，银行在设计贷款合同时，除了规定贷款的利率（直接成本）以外，还包括贷款期限、担保条件（间接成本）等基本条款，以控制借款人的风险，这些条款也构成了企业债务资本成本。本文以我国2003年以来的银行业市场化改革为背景，研究了盈余质量对借贷成本的影响，并检验了2003年以来银行业的改革成效。文章选取了2000年—2009年沪深A股上市公司公布的、同时包含利率、期限、贷款类型的银行贷款数据，以基本Jones模型计算的操纵性应计利润作为盈余质量的替代变量，将样本数据分为全样本数据（2000年—2009年）、2003年（含）以前、2003年以后三组，分别研究了盈余质量对贷款定价、期限、担保类型的影响。研究发现，2003年以后，银行能识别借款人的盈余质量并据此调整借贷成本，即盈余质量越高，贷款利率越低，期限越长，越有可能取得信用贷款；盈余质量越低，贷款利率越高，期限越短，越有可能取得担保贷款。但是在全样本数据组和2003年（含）以前的数据组中均未发现上述结论。研究结果说明了盈余质量的提高能降低企业的借贷成本，2003年以后的银行业改革取得了一定成效，银行能识别企业的盈余操纵行为并相应地调整贷款合同，银行的借贷行为更趋于市场化。
[Abstract]:Bank credit financing is an important source of funds for enterprises, accounting information has always played an important role in bank credit decision-making, among which earnings information is an important reference variable of bank credit decision-making. Unlike the cost of equity capital, when designing a loan contract, the bank, in addition to specifying the interest rate (direct cost) of the loan, also includes basic terms such as the term of the loan, the guarantee condition (indirect cost), and so on, to control the borrower's risk. These terms also constitute the capital cost of corporate debt. Based on the market-oriented reform of China's banking industry since 2003, this paper studies the impact of earnings quality on borrowing costs and examines the effectiveness of banking reform since 2003.The article selects the Shanghai and Shenzhen A-share listed companies published from 2000 to 2009. It also includes the bank loan data of interest rate, maturity, loan type, and takes the manipulative accrual profit calculated by the basic Jones model as the substitute variable of earnings quality. The sample data are divided into three groups (2000-2009, 2003 (inclusive) and after 2003). The effects of earnings quality on loan pricing, maturity and guarantee type are studied respectively. The study found that after 2003, banks could identify the borrower's earnings quality and adjust their borrowing costs accordingly, that is, the higher the surplus quality, the lower the loan interest rate, the longer the maturity, the more likely they are to obtain credit loans; the lower the surplus quality, the higher the loan interest rate. The shorter the term, the more likely you are to secure a secured loan. However, these conclusions were not found in the full sample data set and in the data set before 2003 (inclusive). The results show that the improvement of earnings quality can reduce the borrowing cost of enterprises, and the banking reform after 2003 has achieved some results. Banks can identify the earnings manipulation behavior of enterprises and adjust loan contracts accordingly. The bank's lending behavior tends to be market-oriented.
【学位授予单位】：广东商学院
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F224;F832.2

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