本文選題：政治權(quán)力轉(zhuǎn)移 + 銀行信貸　； 參考：《中國(guó)軟科學(xué)》2016年11期

【摘要】：本文以2004-2012年民營(yíng)企業(yè)為研究對(duì)象,考察了市委書(shū)記更替帶來(lái)的政策不確定性對(duì)銀行信貸合約結(jié)構(gòu)的影響。研究發(fā)現(xiàn),面臨政策不確定性時(shí),民營(yíng)企業(yè)獲得銀行信用借款的比例顯著降低,擔(dān)保借款比例顯著提高,體現(xiàn)了政治權(quán)力轉(zhuǎn)移的不確定性風(fēng)險(xiǎn)假說(shuō);隨著政府質(zhì)量、法律保護(hù)的提高和完善,政治權(quán)力轉(zhuǎn)移帶來(lái)的不確定性風(fēng)險(xiǎn)降低,對(duì)銀行信貸合約的影響減弱。進(jìn)一步研究發(fā)現(xiàn),政策不確定性與銀行信貸的負(fù)相關(guān)關(guān)系在官員異地調(diào)任和外地籍貫、以及無(wú)政治關(guān)聯(lián)和管制行業(yè)中更為顯著。政策不確定性影響銀行信貸合約的機(jī)制是提高了企業(yè)債務(wù)違約風(fēng)險(xiǎn),而高質(zhì)量的會(huì)計(jì)信息能夠緩解政治權(quán)力轉(zhuǎn)移帶來(lái)的不確定性風(fēng)險(xiǎn),降低銀行信貸合約違約概率。本文研究結(jié)論為理解外部宏觀政治環(huán)境對(duì)微觀企業(yè)行為的影響提供了新視角,有助于深化理解政商關(guān)系的互動(dòng)機(jī)制;同時(shí),也有助于從制度層面理解會(huì)計(jì)信息的商業(yè)決策機(jī)制。
[Abstract]:This paper, taking 2004-2012 years of private enterprises as the research object, investigates the influence of the policy uncertainty brought by the replacement of the Party committee secretaries on the structure of the bank credit contract. It is found that, when the policy uncertainty is confronted with the policy uncertainty, the proportion of the private enterprises to obtain the bank credit is significantly reduced, the proportion of the guarantee loan is significantly increased, and the political power transfer is reflected. The uncertainty risk hypothesis; with the quality of the government, the improvement and improvement of the legal protection, the uncertainty of the political power transfer is reduced and the impact on the bank credit contract is weakened. Further research has found that the negative correlation between policy uncertainty and bank credit is in the place of official position and foreign origin, as well as no political connection. The mechanism of policy uncertainty affecting the bank credit contract is to improve the risk of debt default, while high quality accounting information can alleviate the uncertainty caused by the transfer of political power and reduce the probability of default in the bank credit contract. The impact of corporate behavior provides a new perspective and helps to deepen the understanding of the interaction mechanism of the relationship between business and business. At the same time, it also helps to understand the business decision-making mechanism of accounting information from the institutional level.

【作者單位】： 對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)國(guó)際財(cái)務(wù)與會(huì)計(jì)研究中心;
【基金】：國(guó)家自然科學(xué)基金面上項(xiàng)目(71272041) 教育部人文社會(huì)科學(xué)研究規(guī)劃項(xiàng)目(11YJA630085) 對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)中央高�；究蒲袠I(yè)務(wù)費(fèi)專項(xiàng)資金資助(CXTD5-02)
【分類號(hào)】：F275;F276.5
，

本文編號(hào)：1878977