银行业竞争与微观企业资本结构动态调整
发布时间：2018-08-17 11:27
【摘要】：本文通过对银监会网站披露的金融许可证信息的收集与整理,获取了同时包含省际信息与时间信息的银行业竞争数据,并进一步结合2005~2014年A股上市公司数据,探讨地区银行业竞争程度对微观企业资本结构动态调整速度的影响。结论表明,企业所在地的银行业竞争能够加速企业资本结构动态调整进程,但由于银行业竞争主要通过缓解企业融资约束、降低动态调整成本这一路径发挥作用,因此,在过度负债、国有产权及成长性较低的企业样本组中,其作用效果相对不明显。本文研究为银行业结构与经济增长提供了来自于中国的经验证据,也一定程度上拓展了资本结构动态调整相关领域的研究视角。
[Abstract]:Based on the collection and collation of the financial license information disclosed on CBRC website, this paper obtains the banking competition data including interprovincial information and time information, and further combines the data of A-share listed companies from 2005 to 2014. This paper discusses the influence of regional banking competition on the speed of dynamic adjustment of micro enterprises' capital structure. The conclusion shows that the competition of the banking industry in the enterprise location can accelerate the process of dynamic adjustment of the capital structure of the enterprise. However, the competition of the banking industry plays an important role by easing the financing constraints of the enterprise and reducing the dynamic adjustment cost. The effect of excessive debt, state-owned property right and low growth is not obvious in the sample group of enterprises with excessive debt, state-owned property right and low growth. This study provides empirical evidence from China for banking structure and economic growth, and to some extent expands the perspective of research on the dynamic adjustment of capital structure.
【作者单位】： 安徽财经大学会计与财务发展研究中心;安徽财经大学会计学院;
【基金】：国家自然科学基金资助项目(71540004) 安徽财经大学研究生科研创新项目(ACYC2015171)
【分类号】：F275;F279.2;F832
本文编号：2187488
[Abstract]:Based on the collection and collation of the financial license information disclosed on CBRC website, this paper obtains the banking competition data including interprovincial information and time information, and further combines the data of A-share listed companies from 2005 to 2014. This paper discusses the influence of regional banking competition on the speed of dynamic adjustment of micro enterprises' capital structure. The conclusion shows that the competition of the banking industry in the enterprise location can accelerate the process of dynamic adjustment of the capital structure of the enterprise. However, the competition of the banking industry plays an important role by easing the financing constraints of the enterprise and reducing the dynamic adjustment cost. The effect of excessive debt, state-owned property right and low growth is not obvious in the sample group of enterprises with excessive debt, state-owned property right and low growth. This study provides empirical evidence from China for banking structure and economic growth, and to some extent expands the perspective of research on the dynamic adjustment of capital structure.
【作者单位】： 安徽财经大学会计与财务发展研究中心;安徽财经大学会计学院;
【基金】：国家自然科学基金资助项目(71540004) 安徽财经大学研究生科研创新项目(ACYC2015171)
【分类号】：F275;F279.2;F832
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