金融危机、银行授信与企业流动性管理:中国上市公司的经验证据

发布时间：2018-03-04 20:03

本文选题：银行授信　切入点：金融危机　出处：《中国软科学》2017年03期 　论文类型：期刊论文

【摘要】：本文利用中国上市公司2005—2010年的数据,考察银行授信是否降低了金融危机中企业的预防性现金储备。研究发现,获得银行授信的企业在危机期间现金储备的增幅更小,这表明银行授信发挥了流动性保障作用。但是我国特殊的经济制度环境也影响着这种流动性保障作用的有效发挥:(1)相较于国有银行,源自非国有银行的银行授信为企业提供了更有效的流动性保障;(2)银行授信的流动性保障取决于银企关系的强弱;(3)民营企业比国有企业更依赖银行的流动性保障。进一步研究发现,银行授信的流动性保障能够改善企业在危机中的经营业绩。文章结论表明,我国银行体系在帮助企业部门应对金融风险时存在不足,政府应该尽量剥离国有银行的"政治性"贷款,让国有银行为企业提供更有效的流动性保障。
[Abstract]:Based on the data of Chinese listed companies from 2005 to 2010, this paper investigates whether bank credit has reduced the precautionary cash reserves of enterprises in the financial crisis. This shows that bank credit has played a role of liquidity guarantee. However, the special economic system environment of our country also affects the effective use of this liquidity guarantee function.) compared with the state-owned banks, Bank credit from non-state-owned banks provides a more effective liquidity guarantee for enterprises. (the liquidity guarantee of bank credit depends on the strength of the relationship between banks and enterprises. 3) Private enterprises rely more on bank liquidity protection than state-owned enterprises. Further studies have found that, The liquidity guarantee of bank credit can improve the performance of enterprises in crisis. The conclusion of this paper shows that the banking system of our country is insufficient in helping enterprises to cope with financial risks. The government should try to divest the "political" loans of state-owned banks and let them provide more effective liquidity guarantee for enterprises.
【作者单位】：西南财经大学金融智能与金融工程实验室;西南财经大学中国金融研究中心;
【基金】：教育部人文社科重点研究基地重大项目(14JJD790026) 国家社会科学基金一般项目(13BJY168);国家社会科学基金重大项目(13&ZD030)
【分类号】：F275;F832.51

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