客户集中度影响银行长期贷款吗——来自中国上市公司的经验证据

发布时间：2018-04-26 04:10

本文选题：供应链金融 + 客户集中度　；参考：《南开管理评论》2017年02期

【摘要】：结合供应链金融的相关理论与中国制度环境,本文实证检验了企业长期银行贷款是否会受到以及如何受到客户集中度的影响。研究发现,随着客户集中度的上升,企业的长期银行贷款先逐渐增加,随后又逐渐降低,两者之间存在倒U型的非线性关系,而且这一倒U型的非线性关系在民营企业和金融发展水平高的地区更强;进一步的研究发现,当第一大客户为民营企业时,第一大客户销售份额与企业长期银行贷款之间的相关性更强。本文研究不仅在一定程度上克服了国外现有研究可能存在的样本选择偏差问题,而且为我国企业融资行为的研究提供了供应链金融这一新的视角。表明民营企业通过选择恰当的客户对象和保持合适的客户集中度,在一定程度上可以缓解由于信贷配给和信贷歧视所导致的长期信贷约束问题,这对于我国深化国有银行改革、完善供应链金融服务、缓解民营企业面临的融资约束问题具有一定的启示意义。
[Abstract]:Combined with the relevant theories of supply chain finance and China's institutional environment, this paper empirically examines whether and how long-term bank loans will be affected by customer concentration. It is found that with the increase of customer concentration, the long-term bank loans of enterprises increase at first and then decrease gradually, and there is a nonlinear relationship between them. Moreover, this inverted U-shaped nonlinear relationship is stronger in private enterprises and areas with high level of financial development. Further studies have found that when the first largest customer is a private enterprise, The first big customer sales share and the enterprise long-term bank loan correlation is stronger. To some extent, this study not only overcomes the sample selection bias that may exist in the existing research abroad, but also provides a new perspective of supply chain finance for the study of financing behavior of Chinese enterprises. It shows that private enterprises can alleviate the problem of long-term credit constraint caused by credit rationing and credit discrimination to some extent by choosing the right customers and maintaining the appropriate customer concentration, which is helpful to deepen the reform of state-owned banks in China. Improving the supply chain financial services and alleviating the financing constraints faced by private enterprises have certain enlightenment significance.
【作者单位】：暨南大学管理学院会计学系;
【基金】：国家自科基金面上项目(71272212) 暨南大学创新基金项目(15JNYH008)资助
【分类号】：F832.51;F274;F832.4

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