关系型借贷及抵押品约束研究
发布时间：2019-06-10 03:57
【摘要】：国内外的相关研究一致表明,银企间的信息不对称问题直接导致了中小企业的融资难题。实证研究结果表明,关系型借贷可以有效缓解银企间存在的信息不对称问题。另外,银企关系的强弱在抵押品要求等贷款合同条款上得到反映,并对中小企业的融资能力产生重要影响。本文在前人研究的基础上,从关系型信贷和抵押品约束的角度,探讨关系型信贷的影响因素和抵押品在关系型信贷中的作用。 本文的研究方法是以多元回归模型和Logit模型为基础,利用来自某大型全国性股份制商业银行济南分行的292家中小企业申请授信的数据,分别选用中小企业获得的银行授信审批额度和抵押品要求作为被解释变量,均选用企业规模、信用评级、资产负债率、净资产收益率和企业成立年限为解释变量,求证关系型信贷的影响因素和抵押品约束对关系型借贷过程的影响。基本结论是,中小企业获得信贷融资的能力与企业规模、信用评级、净资产收益率和企业成立年限成正比,与资产负债率成反比。贷款合同中的抵押品要求概率与中小企业的规模及资产负债率正相关,与中小企业的信用评级、净资产收益率及企业成立年限负相关。 本文共分为六部分。第一部分为引言,从当前宏观经济及中小企业融资现状背景下来论述研究关系型借贷的现实与理论意义,从而确立选题意义。第二部分对关系型借贷和抵押品这两个关键概念进行了界定,阐明了关系型借贷的理论基础、存在、成因和影响因素,并重点说明了抵押品在关系型借贷中的作用。第三部分介绍了美国和日本的关系型借贷制度及其借鉴意义。第四和第五部分分别是关系型借贷影响因素的实证分析和抵押品约束影响关系型借贷的实证分析。第五部分的实证研究以Logit模型为基础,利用第四部分中剔除没有说明抵押品要求的剩余的164个样本,被解释变量变更为抵押品要求以观察抵押品在关系型信贷中的作用。第六部分基于以上的理论和实证分析,就如何通过发展关系型借贷来提高我国中小企业的信贷融资能力提出了相关对策建议。
[Abstract]:Relevant studies at home and abroad show that the problem of information asymmetry between banks and enterprises directly leads to the financing problems of small and medium-sized enterprises. The empirical results show that relational lending can effectively alleviate the problem of information asymmetry between banks and enterprises. In addition, the relationship between banks and enterprises is reflected in loan contract terms such as collateral requirements, and has an important impact on the financing ability of small and medium-sized enterprises. On the basis of previous studies, this paper discusses the influencing factors of relational credit and the role of collateral in relational credit from the perspective of relational credit and collateral constraints. The research method of this paper is based on multiple regression model and Logit model, and makes use of the data of 292 small and medium-sized enterprises from Jinan Branch of a large national joint-stock commercial bank to apply for credit. The bank credit approval quota and collateral requirements obtained by small and medium-sized enterprises are selected as the explained variables, and the size of the enterprise, credit rating, asset-liability ratio, return on net assets and the number of years of establishment of the enterprise are selected as explanatory variables. Verify the influence of the influencing factors of relational credit and collateral constraints on the process of relational lending. The basic conclusion is that the ability of small and medium-sized enterprises to obtain credit financing is proportional to the size of the enterprise, credit rating and the rate of return on net assets, and inversely proportional to the asset-liability ratio. The probability of collateral requirement in loan contract is positively correlated with the size and asset-liability ratio of small and medium-sized enterprises, and negatively correlated with the credit rating of small and medium-sized enterprises, the rate of return on net assets and the number of years of establishment of enterprises. This paper is divided into six parts. The first part is the introduction, which discusses the practical and theoretical significance of the study of relational lending from the background of the current macroeconomic and financing situation of small and medium-sized enterprises, so as to establish the significance of the selected topic. The second part defines the two key concepts of relational lending and collateral, expounds the theoretical basis, existence, causes and influencing factors of relational lending, and focuses on the role of collateral in relational lending. The third part introduces the relationship lending system between the United States and Japan and its reference significance. The fourth and fifth parts are the empirical analysis of the influencing factors of relational lending and the empirical analysis of the influence of collateral constraints on relational lending, respectively. The fifth part of the empirical study is based on the Logit model, using the fourth part to eliminate the remaining samples that do not explain the collateral requirements, and change the explained variables into the collateral requirements to observe the role of collateral in relational credit. Based on the above theoretical and empirical analysis, the sixth part puts forward some countermeasures and suggestions on how to improve the credit financing ability of small and medium-sized enterprises in China through the development of relational lending.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.4
本文编号：2496152
[Abstract]:Relevant studies at home and abroad show that the problem of information asymmetry between banks and enterprises directly leads to the financing problems of small and medium-sized enterprises. The empirical results show that relational lending can effectively alleviate the problem of information asymmetry between banks and enterprises. In addition, the relationship between banks and enterprises is reflected in loan contract terms such as collateral requirements, and has an important impact on the financing ability of small and medium-sized enterprises. On the basis of previous studies, this paper discusses the influencing factors of relational credit and the role of collateral in relational credit from the perspective of relational credit and collateral constraints. The research method of this paper is based on multiple regression model and Logit model, and makes use of the data of 292 small and medium-sized enterprises from Jinan Branch of a large national joint-stock commercial bank to apply for credit. The bank credit approval quota and collateral requirements obtained by small and medium-sized enterprises are selected as the explained variables, and the size of the enterprise, credit rating, asset-liability ratio, return on net assets and the number of years of establishment of the enterprise are selected as explanatory variables. Verify the influence of the influencing factors of relational credit and collateral constraints on the process of relational lending. The basic conclusion is that the ability of small and medium-sized enterprises to obtain credit financing is proportional to the size of the enterprise, credit rating and the rate of return on net assets, and inversely proportional to the asset-liability ratio. The probability of collateral requirement in loan contract is positively correlated with the size and asset-liability ratio of small and medium-sized enterprises, and negatively correlated with the credit rating of small and medium-sized enterprises, the rate of return on net assets and the number of years of establishment of enterprises. This paper is divided into six parts. The first part is the introduction, which discusses the practical and theoretical significance of the study of relational lending from the background of the current macroeconomic and financing situation of small and medium-sized enterprises, so as to establish the significance of the selected topic. The second part defines the two key concepts of relational lending and collateral, expounds the theoretical basis, existence, causes and influencing factors of relational lending, and focuses on the role of collateral in relational lending. The third part introduces the relationship lending system between the United States and Japan and its reference significance. The fourth and fifth parts are the empirical analysis of the influencing factors of relational lending and the empirical analysis of the influence of collateral constraints on relational lending, respectively. The fifth part of the empirical study is based on the Logit model, using the fourth part to eliminate the remaining samples that do not explain the collateral requirements, and change the explained variables into the collateral requirements to observe the role of collateral in relational credit. Based on the above theoretical and empirical analysis, the sixth part puts forward some countermeasures and suggestions on how to improve the credit financing ability of small and medium-sized enterprises in China through the development of relational lending.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.4
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