金融市場發(fā)展、產(chǎn)權性質與商業(yè)信用供給——基于競爭性動機的實證研究
發(fā)布時間:2018-06-17 23:16
本文選題:金融市場發(fā)展 + 產(chǎn)權性質。 參考:《華東經(jīng)濟管理》2015年06期
【摘要】:文章以2006-2013年滬深兩市的全部非金融類A股上市公司為樣本,從企業(yè)的產(chǎn)權特征以及金融市場發(fā)展程度對商業(yè)信用供給的競爭性動機理論進行實證檢驗。研究發(fā)現(xiàn):迫于市場競爭的壓力,非國有上市公司比國有上市公司更可能以商業(yè)信用作為產(chǎn)品市場競爭手段;金融市場的發(fā)展有利于上市公司提供更多的商業(yè)信用,從而參與產(chǎn)品市場競爭;金融市場發(fā)展水平較高的地區(qū),非國有上市公司比國有上市公司提供更多的商業(yè)信用作為產(chǎn)品市場競爭手段。這些研究結果說明,切實提高我國各地區(qū)金融市場發(fā)展水平有利于非國有上市公司更好地成長與發(fā)展。
[Abstract]:Taking all non-financial A-share listed companies in Shanghai and Shenzhen stock markets from 2006 to 2013 as samples, this paper empirically tests the competitive motivation theory of commercial credit supply from the characteristics of enterprises' property rights and the degree of financial market development. The research finds that, under the pressure of market competition, non-state-owned listed companies are more likely to use commercial credit as a competitive means of product market than state-owned listed companies, and the development of financial market is conducive to the listed companies to provide more commercial credit. In order to participate in the product market competition, the non-state-owned listed companies provide more commercial credit as the competitive means of the product market than the state-owned listed companies in the areas with a higher level of financial market development. These results show that improving the development level of financial markets in various regions of China is conducive to the better growth and development of non-state-owned listed companies.
【作者單位】: 南京財經(jīng)大學會計學院;
【基金】:國家自然科學基金項目(71271139) 江蘇高校哲學社會科學項目(2013SJD630020)
【分類號】:F832.5;F279.2
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相關期刊論文 前5條
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