摘要
金融体系为实体经济服务是我国创新驱动发展战略实现的必要保障。研究发现,在不同的发展阶段,银行业竞争对企业融资约束的影响并非线性关系。银行业改革初期,银行竞争降低企业融资约束;在成熟期,银行分支机构过度竞争后,银行过度竞争加剧了企业融资约束。从企业所有制属性和企业规模的分组检验发现,相对国有企业及大企业等信息透明企业,民营企业及小企业等信息模糊企业因自身信息透明度较低,其融资约束受到银行竞争的影响大。因此,应当进一步深化金融供给侧改革,因地制宜发展银行分支机构,以最优竞争水平缓解企业融资约束,支持实体经济发展。
In order to better support China’s innovation-driven development strategy and make the financial system better serve the real economy. The research finds there is a non-linear relationship between bank competition and corporate financial constraints. In the beginning of the traditional banking reform, the more competitive the banks, the lower the corporate financial constraints;after that, the more concentrated the banks, the lower the corporate financial constraints. Heterogeneity analysis from the perspectives of business owner attributes, business age and business size found that, after establishing a relationship, corporate banks with fuzzy information can alleviate the problem of asymmetry with bank information and ease the corporate financial constraint, but less affected.The research results in this paper indicate that the financial supply-side reform should be continuously promoted,thereby alleviating corporate Financial constraints, and ultimately supporting the development of the real economy.
作者
曲文俏
张涵
陈磊
QU Wen-qiao;ZHANG Han;CHEN Lei(Shandong Agricultural Engineering University,Jinan 250100,China;Shandong University of Finance and Economics,Jinan 250100,China;Shandong International Trust Co.,Ltd.Jinan 250100,China)
出处
《经济问题》
CSSCI
北大核心
2020年第6期49-55,共7页
On Economic Problems
基金
山东省社会科学规划研究项目"’一带一路’倡议背景下山东省对外直接投资的二元边际及经济效应研究"(17CJJZ01)
山东省教育厅研究项目“金融发展、融资约束与山东省农产品制造业出口的二元边际”(J16WE41)
山东省重点研发计划"金融科技背景下互联网消费金融创新发展与风险控制研究"(2019RKB57001)。
关键词
融资约束
银行竞争
信息不对称
银企关系
financial constraints
banking competition
information asymmetry
bank-enterprise relationship
