本文選題：非金融企業(yè)　切入點(diǎn)：影子銀行　出處：《華東師范大學(xué)》2015年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：隨著影子銀行的不斷發(fā)展,國(guó)內(nèi)外在影子銀行方面的研究也有了一定的成果。鑒于中國(guó)影子銀行發(fā)展的特殊性,我們有必要從中國(guó)國(guó)情出發(fā),研究中國(guó)式影子銀行的發(fā)展。非金融行業(yè)的實(shí)體企業(yè)成為資金放貸者是當(dāng)前中國(guó)式影子銀行體系的一大特點(diǎn)。越來(lái)越多的非金融企業(yè)開(kāi)始從事影子銀行業(yè)務(wù),扮演信用中介的角色。融資市場(chǎng)主體地位的不平等產(chǎn)生了融資優(yōu)勢(shì)企業(yè)和融資劣勢(shì)企業(yè)之分。融資優(yōu)勢(shì)企業(yè)憑借自身優(yōu)勢(shì)地位形成了一定規(guī)模的低成本超募資金,劣勢(shì)企業(yè)則面臨融資難、融資貴的困境。資本的逐利性使得優(yōu)勢(shì)企業(yè)熱衷于從事將超募資金以高利率借貸給劣勢(shì)企業(yè)的影子銀行業(yè)務(wù)。這樣的經(jīng)濟(jì)行為造成金融資源錯(cuò)配、市場(chǎng)融資成本上升,融資市場(chǎng)主體地位進(jìn)一步失衡等結(jié)果。這些經(jīng)濟(jì)影響都將通過(guò)企業(yè)產(chǎn)出效率的減損而帶來(lái)社會(huì)福利的損失。本文介紹了我國(guó)非金融企業(yè)從事影子銀行業(yè)務(wù)的具體現(xiàn)狀,用定性分析的方法論述了由此造成的社會(huì)福利效應(yīng)具體表現(xiàn),并進(jìn)一步用實(shí)證分析的方法驗(yàn)證了這些效應(yīng)的量化數(shù)值。本文盡管側(cè)重于討論非金融企業(yè)從事影子銀行業(yè)務(wù)對(duì)社會(huì)福利的負(fù)面效應(yīng),但并不否認(rèn)影子銀行在促進(jìn)資源使用效率上的潛在積極作用。只是從當(dāng)前的現(xiàn)實(shí)狀況來(lái)看,非金融企業(yè)從事影子銀行業(yè)務(wù)確實(shí)存在顯著的不良影響而總體表現(xiàn)為負(fù)效應(yīng)。況且從現(xiàn)實(shí)意義上講,這些負(fù)面的影響才更加值得我們關(guān)注,只有將焦點(diǎn)放在負(fù)效應(yīng)上才可以為未來(lái)的政策措施提供更好的借鑒性。實(shí)證分析的結(jié)果也證明了我國(guó)非金融企業(yè)從事影子銀行業(yè)務(wù)會(huì)帶來(lái)社會(huì)福利凈損失,本文的社會(huì)福利損失模型具體估算了這種福利損失的程度。據(jù)此分析結(jié)果本文最后提出了在加強(qiáng)對(duì)非金融企業(yè)從事影子銀行業(yè)務(wù)行為的監(jiān)管和限制方面的政策建議。
[Abstract]:With the continuous development of the shadow banking, shadow banking research at home and abroad, also have certain results. In view of the special nature of the development of the shadow banking China, we need Chinese starting from the national conditions, development of the shadow banking Chinese. Non financial sector entities for money lenders is a major feature of the China type the shadow banking system. Non financial enterprises more and more began to engage in shadow banking, as credit intermediary. Financing inequality of market players have advantage of financing enterprises and financing enterprises. The financing advantages of enterprises with their own advantage formed a low cost a certain amount of raised funds, inferior enterprises facing difficulties in financing, financing your dilemma. Profit driven capital makes enterprises keen to engage in the raised funds to high interest loans to enterprises in the shadow of silver This line of business. The economic behavior caused by the financial resources mismatch, market financing costs, financing market position further imbalance. These results will detract from the economic impact through the enterprise output efficiency and bring the loss of social welfare. This paper introduces the status in quo of shadow banking financial enterprises in our country, using the method of the qualitative analysis discusses the social welfare effects caused by specific performance, and verify the numerical quantification of these effects by a further empirical analysis method. This paper focuses on the discussion although non financial enterprises engage in shadow banking negative effect on social welfare, but does not deny the shadow banking in the promotion of resource use efficiency on the potential positive effects. Just from the current situation, non financial enterprises in the shadow banking system exists significantly negative effects and overall performance Negative effects. Moreover, from a practical sense, these negative effects are more worthy of our attention, only focus on the negative effect that can provide better reference for future policy measures. The results of the empirical analysis also proves that the financial enterprises in the shadow banking system will bring the net loss of social welfare in China. The loss of social welfare model the estimated the welfare loss degree. Based on the result this paper finally puts forward to strengthen supervision and restrictions on non financial enterprises engaged in shadow banking business conduct policy recommendations.

【學(xué)位授予單位】：華東師范大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2015
【分類(lèi)號(hào)】：F832.3;D632.1
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本文編號(hào)：1597719