發(fā)布時間：2018-02-13 14:02

  本文關鍵詞： 商業(yè)信用融資 銀行信用 標準審計意見 貨幣緊縮　出處：《天津商業(yè)大學》2017年碩士論文　論文類型：學位論文

【摘要】：商業(yè)信用融資在企業(yè)中已經(jīng)得到廣泛應用。現(xiàn)有關于企業(yè)商業(yè)信用融資方面的研究主要可以劃分為兩個方向:一部分學者關注于企業(yè)內(nèi)部影響因素如企業(yè)規(guī)模、財務狀況以及現(xiàn)金流等對企業(yè)商業(yè)信用如何產(chǎn)生影響;另一部分學者加入貨幣政策、金融危機等宏觀經(jīng)濟環(huán)境為大背景研究宏觀經(jīng)濟政策與企業(yè)商業(yè)信用之間的相互作用,很少有涉及標準審計意見對企業(yè)商業(yè)信用融資產(chǎn)生影響的研究,在貨幣緊縮背景下研究標準審計意見與企業(yè)商業(yè)信用之間的關系的文獻更是匱乏。本文從審計意見這一角度進行研究,發(fā)現(xiàn)標準審計意見能夠增加企業(yè)商業(yè)信用的獲取量,同時加入產(chǎn)權性質(zhì)和貨幣緊縮兩個虛擬變量,發(fā)現(xiàn)非國有企業(yè)中標準審計意見的正向作用更加顯著,同時在標準審計意見可以幫助非國有企業(yè)在緊縮時期獲得的商業(yè)信用比在寬松時期更多。這不僅為研究商業(yè)信用融資拓展了新的視角,彌補了審計意見對商業(yè)信用作用方面文獻的不足,同時為受貨幣緊縮影響最嚴重的非國有企業(yè)提供新的抵御方式,具有現(xiàn)實意義。本文從商業(yè)信用融資、貨幣緊縮與商業(yè)信用融資以及審計意見與商業(yè)信用融資三個方面的相關文獻分別進行梳理和述評,在以往文獻的基礎上進行理論分析并提出研究假設。本文選取1998年至2015年我國深滬兩市A股上市公司的財務數(shù)據(jù)作為研究樣本,并按照相應標準進行數(shù)據(jù)篩選得出有效研究數(shù)據(jù),并按照研究假設建立研究模型。根據(jù)研究需要,采用描述性統(tǒng)計分析、相關性分析、多元回歸分析及穩(wěn)健性檢驗對研究假設進行驗證。最后提出研究結(jié)論、相對應的政策意見以及對未來研究的展望。研究結(jié)果表明:(1)在貨幣緊縮期,企業(yè)商業(yè)信用融資與銀行貸款呈負相關,即商業(yè)信用融資與銀行貸款存在替代效應;(2)標準審計意見與企業(yè)下一年度商業(yè)信用融資額呈正相關;(3)與國有企業(yè)相比較,標準審計意見對非國有企業(yè)商業(yè)信用融資的正向作用更加顯著;(4)在貨幣緊縮時期,與國有企業(yè)相比較,標準審計意見對非國有企業(yè)商業(yè)信用融資的正向作用更加顯著。
[Abstract]:Commercial credit financing has been widely used in enterprises. The existing research on business credit financing can be divided into two directions: some scholars pay attention to the internal factors such as enterprise scale. How the financial situation and cash flow influence the business credit; another part of the scholars join the monetary policy, financial crisis and other macroeconomic environment for the background of the study of the interaction between macroeconomic policy and business credit. There are few studies on the impact of standard audit opinions on business credit financing, In the context of monetary tightening, there is a lack of literature on the relationship between standard audit opinions and business credit. This paper, from the perspective of audit opinions, finds that standard audit opinions can increase the amount of business credit obtained by enterprises. At the same time, by adding two fictitious variables of property right nature and monetary tightening, we find that the positive effect of standard audit opinion in non-state-owned enterprises is more significant. At the same time, standard audit opinions can help non-state-owned enterprises gain more commercial credit during the austerity period than in the loose period. This not only opens up a new perspective for the study of commercial credit financing, It is of practical significance to make up for the deficiency of audit opinion on the role of commercial credit, and to provide a new way to resist the most serious effects of monetary tightening on non-state-owned enterprises. Monetary tightening and commercial credit financing, as well as audit opinions and commercial credit financing, respectively, are reviewed and reviewed. On the basis of previous literature, this paper makes theoretical analysis and puts forward research hypotheses. This paper selects the financial data of A-share listed companies in Shenzhen and Shanghai stock markets from 1998 to 2015 as the research samples. According to the corresponding criteria, the effective research data are obtained, and the research model is established according to the research hypothesis. According to the research needs, descriptive statistical analysis and correlation analysis are used. Multivariate regression analysis and robustness test are used to verify the hypothesis. Finally, the conclusions of the study, corresponding policy opinions and prospects for future research are put forward. The results show that: 1) is in the period of monetary tightening. There is a negative correlation between commercial credit financing and bank loans, that is, there is a substitution effect between commercial credit financing and bank loans. The standard audit opinion has a positive correlation with the amount of business credit financing in the next year. The positive effect of the standard audit opinion on the commercial credit financing of the non-state-owned enterprises is more significant than that of the state-owned enterprises in the period of monetary tightening. The positive effect of the standard audit opinion on the commercial credit financing of the non-state-owned enterprises is more significant than that of the state-owned enterprises.
【學位授予單位】：天津商業(yè)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F275;F822.0;F832.51

【參考文獻】

相關期刊論文 前10條

1 劉寶財;;內(nèi)部控制、產(chǎn)權性質(zhì)與商業(yè)信用——基于貨幣政策緊縮視角的檢驗[J];南京審計學院學報;2014年03期

2 張勇;;信任、審計意見與商業(yè)信用融資[J];審計研究;2013年05期

3 程小可;楊程程;姚立杰;;內(nèi)部控制、銀企關聯(lián)與融資約束——來自中國上市公司的經(jīng)驗證據(jù)[J];審計研究;2013年05期

4 鄭軍;林鐘高;彭琳;;地區(qū)市場化進程、相對談判能力與商業(yè)信用——來自中國制造業(yè)上市公司的經(jīng)驗證據(jù)[J];財經(jīng)論叢;2013年05期

5 饒品貴;姜國華;;貨幣政策對銀行信貸與商業(yè)信用互動關系影響研究[J];經(jīng)濟研究;2013年01期

6 張杰;馮俊新;;中國企業(yè)間貨款拖欠的影響因素及其經(jīng)濟后果[J];經(jīng)濟理論與經(jīng)濟管理;2011年07期

7 陸正飛;楊德明;;商業(yè)信用:替代性融資,還是買方市場?[J];管理世界;2011年04期

8 廖義剛;;審計意見、關聯(lián)關系與債權人監(jiān)督——基于商業(yè)信用視角的經(jīng)驗證據(jù)[J];上海立信會計學院學報;2011年02期

9 文建奇;;商業(yè)信用影響因素研究[J];統(tǒng)計與決策;2011年05期

10 余明桂;羅娟;汪忻妤;;商業(yè)信用的融資性動機研究現(xiàn)狀與展望[J];財會通訊;2010年18期

相關碩士學位論文 前6條

1 李蘭;制度環(huán)境與審計意見對商業(yè)信用融資成本的影響研究[D];湖南大學;2014年

2 饒偉;商業(yè)信用與銀行信貸：互補還是替代？[D];重慶大學;2013年

3 王道偉;中小企業(yè)融資中商業(yè)信用與銀行信用關系的實證研究[D];南京農(nóng)業(yè)大學;2011年

4 鄔樹波;中小企業(yè)商業(yè)信用融資影響因素實證分析[D];暨南大學;2009年

5 汪蘭;所有權性質(zhì)、區(qū)域因素與商業(yè)信用[D];華中科技大學;2009年

6 周蕊;我國商業(yè)信用發(fā)展研究[D];首都經(jīng)濟貿(mào)易大學;2005年

，

本文編號：1508326