政治关联、银企关系与企业绩效

发布时间：2018-09-18 16:12

【摘要】：经过改革开放30多年来的发展，我国中小企业逐步成长为我国国民经济中的支柱力量。中小企业在促进经济增长、拉动就业、加快创新以及带动经济体制改革等方面发挥着重要的作用。近年来，，由于外围经济环境不景气，内部经济增速放缓等原因，中小企业在发展过程中存在的问题也逐步暴露，比较突出的有税费负担较重、产权保护不力以及融资难等问题，这无疑会限制我国中小企业的进一步成长。本文在我国经济转型的背景下，指出中小企业面临上述问题的关键在于我国缺乏完善的法制环境和有效的金融体系。制度上的短板要求中小企业建立政治关联来弥补正式制度的不足，保护自身的发展。因此，积极关注并认真解决中小企业发展的问题，对于改善我国中小企业的经营管理，提升企业绩效以及促进我国的经济增长具有重要的意义。在上述背景之下，本文对于政治关联、银企关系以及企业绩效之间的研究现状进行了详尽的评述，并结合三者之间的理论基础提出了相关的研究假设，试图论证我国中小企业通过政治关联一方面可以帮助其规避政府管制、获取稀缺资源，直接提升企业绩效，另一方面可以帮助其改善银企关系，并以银企关系为中介变量，来进一步影响企业绩效。在实证分析方面，本文首先研究了政治关联对于企业绩效的作用机制，结论表明政治关联在整体上对于企业绩效有显著的提升作用；在进一步区分政治关联的类型之后，研究表明相比于地方政治关联背景，中央政治关联背景更能促进企业绩效的提升。其次，本文研究了政治关联对于银企关系的作用机制，结论表明政治关联能够提高银行贷款规模，并且在贷款的期限结构上表现为短期贷款；之后，本文研究了银企关系对于企业绩效的作用机制，结论表明银行贷款规模对于企业绩效产生了负面影响，短期贷款对于企业绩效有显著的正面影响。最后，本文进行了银企关系的中介效应检验，结论表明银行贷款规模在政治关联作用于企业绩效的过程中存在负向中介效应，短期贷款和长期贷款发挥着正向中介效应。根据实证研究的结论，本文提出了促进我国中小企业发展的政策建议，例如转变政府职能、健全法制建设以及创造良好的金融环境等。此外，本文在最后也指出了研究的不足之处和进一步的研究方向。
[Abstract]:After more than 30 years of reform and opening up, the small and medium-sized enterprises in our country have gradually become the mainstay of our national economy. Small and medium-sized enterprises play an important role in promoting economic growth, stimulating employment, speeding up innovation and driving economic system reform. In recent years, due to the depression of the external economic environment and the slowdown of the internal economic growth rate, the problems existing in the development of small and medium-sized enterprises have been gradually exposed, such as the heavy burden of taxes and fees, the weak protection of property rights, and the difficulty of financing, and so on. This will undoubtedly limit the further growth of small and medium-sized enterprises in China. Under the background of China's economic transformation, this paper points out that the key to the above problems lies in the lack of perfect legal environment and effective financial system. Institutional weaknesses require small and medium-sized enterprises to establish political connections to make up for the deficiencies of the formal system and to protect their own development. Therefore, it is of great significance to actively pay attention to the development of small and medium-sized enterprises, to improve the management of small and medium-sized enterprises in our country, to promote the performance of enterprises and to promote the economic growth of our country. Under the above background, this paper makes a detailed review of the current situation of the research on political correlation, the relationship between banks and enterprises, and firm performance, and puts forward the relevant research hypotheses based on the theoretical basis of the three theories. This paper tries to prove that on the one hand, the small and medium-sized enterprises in our country can help them evade government regulation, obtain scarce resources, and directly improve the performance of enterprises, on the other hand, they can help them to improve the relationship between banks and enterprises, and take the relationship between banks and enterprises as the intermediary variable. To further affect corporate performance. In the empirical analysis, this paper first studies the mechanism of political association on enterprise performance, and concludes that political association has a significant role in promoting corporate performance; after further differentiating the types of political association, The research shows that compared with the local political background, the central political connection background can promote enterprise performance more. Secondly, this paper studies the mechanism of political association on the relationship between banks and enterprises. The conclusion shows that political association can improve the scale of bank loans, and the term structure of the loans is short term loans. This paper studies the mechanism of the relationship between banks and enterprises on corporate performance. The conclusion shows that the scale of bank loans has a negative impact on corporate performance, and short-term loans have a significant positive impact on corporate performance. Finally, the paper tests the intermediary effect of the relationship between banks and enterprises, and concludes that the scale of bank loans has a negative intermediary effect in the process of political connection to firm performance, while short-term loans and long-term loans play a positive intermediary effect. According to the conclusion of the empirical study, this paper puts forward some policy suggestions to promote the development of small and medium-sized enterprises in China, such as transforming government functions, perfecting the legal system and creating a good financial environment. In addition, this paper also pointed out the shortcomings of the study and the direction of further research.
【学位授予单位】：中国矿业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F276.3;F832.4

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