社会信任、内部控制质量与商业信用融资

发布时间：2018-01-26 13:10

本文关键词： 社会信任内部控制质量商业信用融资　出处：《郑州航空工业管理学院》2017年硕士论文　论文类型：学位论文

【摘要】：作为一种替代性外部融资方式,商业信用在缓解当前融资难问题中具有重要作用,因此在实践和理论上成为关注的热点。目前,关于商业信用融资的研究存在“社会化不足”的现象。社会信任作为一种社会资本,能够稳定交易双方的心理预期,从而提高交易效率、降低交易成本,而内部控制通过提高企业财务信息的可靠性,从而在交易双方的缔约过程中发挥重要的置信作用。由此看出,社会信任和内部控制都能够对商业信用融资产生影响,但两者如何影响商业信用融资,以及在影响商业信用融资时,两者之间存在何种关系都值得深入研究。本文从社会信任和内部控制内外两个机制来研究企业商业信用融资,在一定程度上扩展了研究视角,而且本文同时考察商业信用融资规模和成本,使得研究更加全面和深入。在研究过程中,本文首先对相关研究成果进行梳理,结合相关理论基础,提出社会信任、内部控制与商业信用融资关系的研究假设。其次,构建研究模型,并以2009—2014年沪深A股上市公司为研究样本,运用多元统计回归方法实证检验了社会信任、内部控制质量与商业信用融资三者之间的关系。通过研究发现:企业内部控制质量越高,企业越容易获取更多商业信用融资,取得的商业信用融资成本也较低;相对于社会信任度低的地区,处于社会信任度较高地区的企业,越有可能获得规模大成本低的商业信用融资;进一步研究发现,处于社会信任度较低地区的企业,内部控制质量对于商业信用融资(规模和成本)具有更强的影响程度。之后的稳健性检验验证了结论的可靠性。最后根据本文的研究结论,提出了改善企业商业信用融资状况的相关建议。
[Abstract]:As an alternative external financing method, commercial credit plays an important role in alleviating the current financing difficulties, so it has become a hot spot in practice and theory. As a kind of social capital, social trust can stabilize the psychological expectation of both sides of the transaction, thus improve the transaction efficiency and reduce the transaction cost. By improving the reliability of enterprise financial information, internal control plays an important role of confidence in the contracting process of both parties to the transaction. Both social trust and internal control can have an impact on commercial credit financing, but how do they affect commercial credit financing, and when they affect commercial credit financing. What kind of relationship between the two is worthy of further study. This paper from the social trust and internal control of internal and external mechanisms to study business credit financing, to a certain extent, expand the research perspective. And at the same time, this paper examines the scale and cost of commercial credit financing, which makes the research more comprehensive and in-depth. In the research process, this paper first combs the relevant research results, combined with the relevant theoretical basis. Put forward the research hypothesis of social trust, internal control and commercial credit financing. Secondly, build the research model, and take Shanghai and Shenzhen A-share listed companies as the research sample from 2009-2014. This paper empirically tests the relationship among social trust, internal control quality and commercial credit financing by using multivariate statistical regression method. It is found that the higher the internal control quality is, the higher the internal control quality is. The easier it is for enterprises to obtain more commercial credit financing, the lower the cost of obtaining commercial credit financing is. Compared with the regions with low social trust, the enterprises in the high social trust areas are more likely to obtain large scale and low cost commercial credit financing. Further research found that enterprises in low social trust areas. The quality of internal control has a stronger impact on commercial credit financing (scale and cost). Then the robustness test verifies the reliability of the conclusion. Finally, according to the conclusion of this paper. The paper puts forward some suggestions to improve the situation of business credit financing.
【学位授予单位】：郑州航空工业管理学院
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51

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