银行关联、地区金融文化与企业委托理财

发布时间：2018-01-31 02:49

本文关键词： 银行关联金融文化委托理财委托理财行为　出处：《重庆大学学报(社会科学版)》2017年03期 　论文类型：期刊论文

【摘要】：以2008-2014年A股主板上市公司为研究样本,基于公司治理和外部环境的视角,研究企业委托理财行为的驱动因素。研究发现:银行背景高管的存在有利于增强企业的委托理财意愿,具体而言,银行关联关系显著提高了企业委托理财的发生概率、投资频率和投资规模,缩短了企业委托理财的平均投资期限,却并未明显提高企业委托理财的实际收益;企业委托理财行为一定程度上依赖于地区的金融文化水平,在金融文化环境较好的地区,企业发生委托理财的可能性更大,委托理财投资频率更高,资金投资规模更大,委托理财的实际收益也更高;在对于企业委托理财行为的影响上,银行关联与地区金融文化呈现替代关系。
[Abstract]:Based on the perspective of corporate governance and external environment, this paper takes the A-share main Board listed companies as the research sample from 2008 to 2014. The study of the driving factors of corporate entrusted financial management behavior. The study found that: the existence of bank executives is conducive to enhance the willingness of enterprises to entrust financial management, specifically speaking. The relationship between banks increases the probability, frequency and scale of investment, shortens the average period of investment, but does not obviously improve the actual income of entrusted financial management. The behavior of entrusted financial management depends on the level of regional financial culture to some extent. In the areas with good financial and cultural environment, the possibility of entrusted financial management is greater and the investment frequency of entrusted financial management is higher. The scale of capital investment is larger, the actual income of entrusted financial management is also higher; The relationship between bank association and regional financial culture is a substitute for the behavior of entrusted financial management.
【作者单位】：重庆大学经济与工商管理学院;
【基金】：国家社会科学基金项目“具有政府背景的高管对企业投资低效率行为的影响及治理机制(研究)”(11CGL009)
【分类号】：F275;F832.51
【正文快照】： 一、研究背景与问题在经济增速放缓的局势下,国内上市公司实体投资的意愿不足,利用闲置资金购买理财产品蔚然成风。据Wind数据统计,2016年3月以来,130余家上市公司纷纷购买理财产品。其中小天鹅(股票代码:000481)发布公告称,拟利用60亿元自有闲置资金投资理财产品,堪称上市公

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