發(fā)布時間：2018-03-18 07:11

  本文選題：銀企距離　切入點(diǎn)：銀行貸款　出處：《浙江大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：銀行業(yè)的發(fā)展是我國國民經(jīng)濟(jì)發(fā)展的重要一環(huán),銀行體系在我國社會融資活動中發(fā)揮著主導(dǎo)性、基礎(chǔ)性的作用。改革開放以來,隨著資本市場迅速發(fā)展,直接融資模式占比有所上升,但是以銀行貸款為主的間接融資模式仍在調(diào)動儲蓄、集聚資金以支撐實(shí)體經(jīng)濟(jì)建設(shè)中發(fā)揮著重要作用。銀行業(yè)的健康發(fā)展,對社會融資、實(shí)體經(jīng)濟(jì)均有關(guān)鍵性的意義。目前隨著我國經(jīng)濟(jì)進(jìn)入新常態(tài)模式,銀行面臨的金融行業(yè)環(huán)境已有所不同。一方面受實(shí)體經(jīng)濟(jì)下行的影響,加之銀行面臨轉(zhuǎn)型"陣痛",銀行的傳統(tǒng)盈利模式受到挑戰(zhàn),利潤增長放緩;另一方面,企業(yè)信貸風(fēng)險累積,銀行資質(zhì)質(zhì)量下降,銀行信貸投放時面臨的風(fēng)險加大。對于企業(yè)來說,縱然央行調(diào)低貸款基準(zhǔn)利率,也保證市場的流動性充足,企業(yè)融資難的困境仍存在。在信貸市場信用收緊,銀企關(guān)系緊張,企業(yè)融資難的背景下,研究我國企業(yè)銀行貸款的影響因素,具有一定現(xiàn)實(shí)意義。我國目前在銀企關(guān)系角度對銀行貸款影響的研究上,大多從銀企關(guān)系長度出發(fā),本文在信息不對稱理論及代理理論的基礎(chǔ)上,研究銀企距離對企業(yè)銀行貸款水平的影響效應(yīng)機(jī)制。為銀行與企業(yè)從降低信息不對稱程度、建立有效的信用體系的方向解決信貸市場信用收緊和企業(yè)融資難的問題提供思路。論文首先從信息不對稱和企業(yè)外部制度環(huán)境兩個方面分析了銀企距離對銀行貸款的影響作用機(jī)制,進(jìn)而提出兩個檢驗(yàn)假設(shè),然后以我國A股市場2015年上市公司為研究樣本,在信息不對稱理論及代理理論的基礎(chǔ)上,通過多元回歸模型,實(shí)證檢驗(yàn)了銀企距離對企業(yè)銀行貸款水平關(guān)系影響。論文實(shí)證研究結(jié)果表明,企業(yè)的銀行貸款水平與銀企距離呈顯著的負(fù)相關(guān)關(guān)系。在地區(qū)金融發(fā)展水平高的省市,銀企距離對企業(yè)的銀行貸款水平的負(fù)向影響受到了抑制。銀企距離越遠(yuǎn),企業(yè)的銀行貸款水平越低,這說明距離在一定程度上阻礙了企業(yè)相關(guān)信息的傳播和交流,也在一定程度上提高了信息收集成本和銀行的監(jiān)督成本,從而影響了企業(yè)的銀行貸款水平。地區(qū)金融發(fā)展水平削弱了銀企距離降低銀行貸款水平的作用,這說明地區(qū)金融發(fā)展水平高,信息流通更高效透明,大大緩解了信息不對稱的程度,削弱了銀企距離對銀行貸款的影響,從而提高了企業(yè)的銀行貸款水平。根據(jù)研究結(jié)果,論文提出促進(jìn)銀行業(yè)進(jìn)一步健康發(fā)展的相應(yīng)政策建議。一方面銀行應(yīng)重視軟信息,建立有效的收集渠道,主動有效地收集軟信息,降低信息不對稱程度,提高貸款業(yè)務(wù)的質(zhì)量。銀行可以通過互聯(lián)網(wǎng)信息技術(shù)建立渠道,并且和企業(yè)保持暢通的信息交流渠道。另一方面,政府要出臺相關(guān)政策,大力發(fā)展地區(qū)金融業(yè),努力提高地區(qū)法治水平,建立有效的信用體系,對債權(quán)人提供有效的保護(hù),從而達(dá)到提高地區(qū)銀行業(yè)競爭程度,提高企業(yè)貸款水平的效果。本文可能的創(chuàng)新點(diǎn)主要體現(xiàn)在如下兩點(diǎn):第一、在變量上,現(xiàn)有研究對銀企距離的描述由替代變量或宏觀描述較多,本文嘗試用客觀的物理數(shù)據(jù)以得到更加直接的結(jié)果。在描述銀企兩方之間的物理距離上,國外較多文獻(xiàn)均使用了銀企雙方的總部作為它的位置的代理變量,本文取具體的銀行分行與子公司的位置來描述距離。第二、本文結(jié)合我國各省市經(jīng)濟(jì)金融發(fā)展水平差異較大的現(xiàn)狀,金融業(yè)發(fā)展的水平、法治水平以及基礎(chǔ)設(shè)施水平不同對銀行貸款均有一定程度影響。本文引入了地區(qū)市場化水平的變量,研究分析不同的地區(qū)發(fā)展水平對銀企距離的影響程度是否有抑制作用。
[Abstract]:The development of the banking industry of national economy in China is an important part of the development, the banking system plays a leading in the financing activities of our society, the basic role. Since the reform and opening up, with the rapid development of the capital market, direct financing mode has increased the proportion of indirect financing mode, but mainly by bank loans were still on the move savings, accumulate funds to support plays an important role in the construction of the real economy. The healthy development of the banking industry, social financing, real economy has crucial significance. At present, as China's economy has entered a new normal mode, banks are facing the financial industry environment are different. On the one hand affected the real economy down, coupled with the bank facing the transformation of "labor pains", the bank's traditional profit model challenged, slowing profit growth; on the other hand, the cumulative decline in bank credit risk, qualification of quality, bank credit at The increased risk for the enterprise, even if the central bank lowered the benchmark interest rate loans, but also to ensure adequate market liquidity, corporate financing difficulties still exist. In the credit tightening credit market, bank tensions, enterprise financing difficult background, to study the factors that influence the enterprise bank loan in China, has a certain practical significance at present in our country. Study on the influence relationship perspective on bank loans, mostly from the length of the relationship between banks and enterprises, based on the asymmetric information theory and agency theory, study the effect of distance on the bank enterprise bank loan level effect. Banks and enterprises from reducing the degree of information asymmetry, the establishment of effective credit system the direction of the credit market credit tightening and solve the difficult problem of corporate finance to provide ideas. Firstly, from the analysis of information asymmetry and enterprise external environment two aspects The effect of distance on the bank loan mechanism, and puts forward two hypotheses, and then in 2015 China A stock market listed companies as research samples, based on asymmetric information theory and agency theory, through the multiple regression model, an empirical test of the relationship between bank and distance influence on the enterprise level. An empirical study on bank loans the results show that there is a significant negative relationship between the level of enterprise and bank and bank loans in the distance. The level of regional financial development provinces, bank and bank loans to enterprises from the level of negative effect is reduced. The farther the distance is, the lower the level of corporate bank loans, which shows the distance hindered the spread and the exchange of enterprise information related to a certain extent, also increased the cost of information collection and bank supervision cost to a certain extent, thereby affecting the company's bank loans. The level of regional financial development weakens the bank distance decreasing loan level, which shows that the level of regional financial development, the flow of information more efficient and transparent, greatly reduce the degree of information asymmetry, weaken the influence of bank enterprise distance on bank loans, bank loans to improve the enterprise's level. According to the research results, put forward to promote banking the further development of the corresponding policy recommendations. On the one hand, banks should pay attention to the soft information, the establishment of effective collection channels, active effectively collect soft information, reduce information asymmetry, improve the quality of loan business. The bank can establish channels through the Internet information technology, and maintain the smooth flow of information communication channels and enterprise. On the other hand, the government should introduce relevant policies, vigorously develop the regional financial industry, and strive to improve the level of the rule of law area, establish an effective credit system of creditor's rights To provide effective protection, so as to improve the regional competition level of banking industry, improve the enterprise loan level effect. The innovation of this paper mainly reflected in the following two points: first, in the variable, the existing research on bank distance is described by alternative variables or more macroscopic description, this paper attempts to use the physical data to be more objective direct result. In describing the physical distance between the bank and two party, many foreign literature was used as a proxy for the bank and the two sides of the headquarters of its location, the bank branches and subsidiaries to describe the specific location of the distance. Second, combining with the status quo of different provinces economic and financial development level of China's large the development of the financial industry, the level of infrastructure, the level of the rule of law and different levels of impact on bank loans to some extent. This paper introduces the regional market level variables, The research and analysis of the different regional development level has an inhibitory effect on the extent of the impact of the distance between banks and enterprises.

【學(xué)位授予單位】：浙江大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.4;F275

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