金融市场发展、产权性质与商业信用供给——基于竞争性动机的实证研究

发布时间：2018-06-17 23:16

本文选题：金融市场发展 + 产权性质　；参考：《华东经济管理》2015年06期

【摘要】：文章以2006-2013年沪深两市的全部非金融类A股上市公司为样本,从企业的产权特征以及金融市场发展程度对商业信用供给的竞争性动机理论进行实证检验。研究发现:迫于市场竞争的压力,非国有上市公司比国有上市公司更可能以商业信用作为产品市场竞争手段;金融市场的发展有利于上市公司提供更多的商业信用,从而参与产品市场竞争;金融市场发展水平较高的地区,非国有上市公司比国有上市公司提供更多的商业信用作为产品市场竞争手段。这些研究结果说明,切实提高我国各地区金融市场发展水平有利于非国有上市公司更好地成长与发展。
[Abstract]:Taking all non-financial A-share listed companies in Shanghai and Shenzhen stock markets from 2006 to 2013 as samples, this paper empirically tests the competitive motivation theory of commercial credit supply from the characteristics of enterprises' property rights and the degree of financial market development. The research finds that, under the pressure of market competition, non-state-owned listed companies are more likely to use commercial credit as a competitive means of product market than state-owned listed companies, and the development of financial market is conducive to the listed companies to provide more commercial credit. In order to participate in the product market competition, the non-state-owned listed companies provide more commercial credit as the competitive means of the product market than the state-owned listed companies in the areas with a higher level of financial market development. These results show that improving the development level of financial markets in various regions of China is conducive to the better growth and development of non-state-owned listed companies.
【作者单位】：南京财经大学会计学院;
【基金】：国家自然科学基金项目(71271139) 江苏高校哲学社会科学项目(2013SJD630020)
【分类号】：F832.5;F279.2

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