本文選題：政治風(fēng)險(xiǎn)　切入點(diǎn)：銀團(tuán)貸款　出處：《管理評(píng)論》2017年09期 　論文類型：期刊論文

【摘要】："一帶一路"背景下我國(guó)商業(yè)銀行等金融機(jī)構(gòu)"走出去",不僅可以解決制造業(yè)企業(yè)"走出去"對(duì)資金的迫切需求,同時(shí)可作為資本輸出的戰(zhàn)略載體。但是,復(fù)雜的國(guó)際政治形勢(shì)是我國(guó)銀行業(yè)的海外發(fā)展面臨的重要挑戰(zhàn)�；�1996年至2014年間我國(guó)金融機(jī)構(gòu)牽頭的銀團(tuán)貸款數(shù)據(jù),本文探討了政治風(fēng)險(xiǎn)與貸款利率之間的關(guān)系。研究結(jié)果表明:我國(guó)商業(yè)銀行等金融機(jī)構(gòu)牽頭對(duì)發(fā)達(dá)國(guó)家和發(fā)展中國(guó)家企業(yè)的銀團(tuán)貸款中存在異質(zhì)性政治風(fēng)險(xiǎn)溢價(jià)要求。我國(guó)金融機(jī)構(gòu)對(duì)發(fā)展中國(guó)家企業(yè)貸款要求政治風(fēng)險(xiǎn)溢價(jià),當(dāng)借款人所在國(guó)家的政治風(fēng)險(xiǎn)增加一單位標(biāo)準(zhǔn)差時(shí),銀團(tuán)貸款利率增加56.335個(gè)基點(diǎn)。但是,對(duì)發(fā)達(dá)國(guó)家企業(yè)的銀團(tuán)貸款中沒(méi)有顯著的政治風(fēng)險(xiǎn)溢價(jià)要求。進(jìn)一步研究發(fā)現(xiàn):為發(fā)展中國(guó)家企
[Abstract]:Under the background of "Belt and Road", China's commercial banks and other financial institutions "going out" can not only solve the urgent need for capital for manufacturing enterprises to "go out", but also serve as strategic carriers for the export of capital. The complex international political situation is an important challenge for the overseas development of China's banking industry. Based on the syndicated loan data from 1996 to 2014, This paper discusses the relationship between political risk and loan interest rate. The results show that there is heterogeneity political risk premium in syndicated loans from Chinese commercial banks and other financial institutions to enterprises in developed and developing countries. Our financial institutions require a political risk premium on loans to enterprises in developing countries, The syndicated lending rate increased by 56.335 basis points when the political risk in the borrower's country increased by a unit of standard deviation. There is no significant political risk premium requirement for syndicated loans to developed country firms.
【作者單位】： 對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)金融學(xué)院;中國(guó)人民銀行廣州分行;
【基金】：國(guó)家社會(huì)科學(xué)基金重大項(xiàng)目(16ZDA033) 對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)中央高校基本科研業(yè)務(wù)費(fèi)專項(xiàng)資金資助(15QN03)
【分類號(hào)】：D0;F832.4
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本文編號(hào)：1564288