【摘要】：以1998—2012年中國制造業(yè)上市公司數(shù)據(jù)為樣本,檢驗(yàn)了企業(yè)的產(chǎn)品市場競爭狀況與商業(yè)信用使用之間的非線性關(guān)系。檢驗(yàn)結(jié)果發(fā)現(xiàn),企業(yè)產(chǎn)品市場競爭中的市場競爭狀況對(duì)企業(yè)商業(yè)信用的使用總體上呈非線性,在不同的競爭狀況中,既會(huì)出現(xiàn)隨著市場壟斷力量增加而增加的情形,也會(huì)出現(xiàn)隨市場力量減弱而增加的情形。同時(shí),還檢驗(yàn)了產(chǎn)品市場競爭狀況與企業(yè)競爭能力對(duì)企業(yè)商業(yè)信用、銀行信用間的替代性選擇問題,市場力量更弱的公司的銀行信用與商業(yè)信用間的替代性強(qiáng)于市場力量強(qiáng)的公司。這說明,那些面臨更激烈競爭市場的企業(yè)會(huì)更多地利用商業(yè)信用替代銀行信用。
[Abstract]:Taking the data of Chinese manufacturing listed companies from 1998 to 2012 as a sample, this paper examines the non-linear relationship between the market competition of enterprises and the use of commercial credit. The test results show that the use of business credit by market competition is nonlinear in the market competition of enterprises. In different competition conditions, the market competition will increase with the increase of market monopoly power, and it will not only increase with the increase of market monopoly power, but also increase with the increase of market monopoly power in different competition conditions. There will also be an increase with the weakening of market forces. At the same time, the paper also examines the alternative choice between the competitive situation of product market and the competitive power of enterprises to the commercial credit and bank credit of the enterprise. Companies with weaker market forces have a stronger alternative between bank credit and commercial credit than those with stronger market forces. This shows that enterprises facing more competitive markets will make more use of commercial credit instead of bank credit.
【作者單位】： 曲阜師范大學(xué)管理學(xué)院;中國人民大學(xué)財(cái)政金融學(xué)院;
【基金】：曲阜師范大學(xué)青年基金項(xiàng)目(XJ201234)
【分類號(hào)】：F425;F832.4

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