金融危机对企业经营和融资的影响——基于正规金融与民间金融协调效应的异质性分析

发布时间：2018-02-11 04:49

本文关键词： 金融危机产业异质性融资环境正规金融民间金融　出处：《技术经济与管理研究》2017年01期 　论文类型：期刊论文

【摘要】：2008年爆发的全球性金融危机虽然始于虚拟经济,但快速地向实体经济蔓延,对企业的经营和融资造成了重大影响。文章利用世界银行2009年及2010年对世界金融危机的调查数据,以土耳其为例,说明了金融危机对企业经营环境及融资环境的影响,并讨论了不同产业的企业受金融危机影响的异质性,结果发现金融危机对制造业经营业绩的影响大于服务业,但制造业融资违约风险仍然较小,总体上看金融危机对企业经营没有显著持续性影响,且促进了民间金融对正规金融的补充,最后对中国企业在危机背景下合意产业结构及融资结构的构建提供经验借鉴。
[Abstract]:Although the global financial crisis that broke out in 2008 began with virtual economy, it spread rapidly to the real economy, which had a great impact on the operation and financing of enterprises. This paper makes use of the survey data of the World Bank on 2009 and 2010 on the world financial crisis. Taking Turkey as an example, this paper illustrates the impact of the financial crisis on the business environment and financing environment of enterprises, and discusses the heterogeneity of enterprises in different industries affected by the financial crisis. The results show that the impact of the financial crisis on the business performance of the manufacturing industry is greater than that of the service industry, but the risk of financing default in the manufacturing industry is still relatively small. On the whole, the financial crisis has no significant lasting impact on the business operations. It also promotes the supplement of folk finance to formal finance, and finally provides experience and reference for Chinese enterprises to construct their preferred industrial structure and financing structure under the background of crisis.
【作者单位】：齐鲁工业大学金融学院;
【基金】：齐鲁工业大学人文社科项目(2015.12-2016.12)
【分类号】：F831.59;F275;F279.2

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