常州大学学报(社会科学版)Issue(5)：39-43,5.DOI:10.3969/j.issn.2095-042X.2014.05.010
金融发展、银企关系与企业债务期限结构
Financial Development,Banks and Enterprises Relationships and Debt Maturity Structure
摘要
Abstract
Due to historical and practical reasons,there is a big difference among financial market development level in different regions of China.In the underdeveloped areas,while commercial banks allocating credit funds, their concerns are not only corporate assets and collateral status,but also banks and enterprises relationships which will influence enterprise access to credit funds,arrangement of the main factors of debt structure.In this paper,an empirical demonstration on the relationship between finance development,banks and enterprises relationships and Debt maturity structure were conducted based on all the non-financial stock A companies in Shanghai and Shenz-hen stock market between 2004 and 2011.Results showed that:finance development was negatively correlated with the funded debt;banks and enterprises relationships was positively correlated with the funded debt,the relation could break the original financing constraints and bring more long-term loan sources for the emprises;the develop-ment of financial market weakened the effect of banks and enterprises relationships and the enterprises could obtain loans they need in regular ways.关键词
金融发展/银企关系/债务期限结构Key words
financial development/bank and enterprise relationship/debt maturity structure分类
管理科学引用本文复制引用
秦社华,汤颖梅..金融发展、银企关系与企业债务期限结构[J].常州大学学报(社会科学版),2014,(5):39-43,5.基金项目
教育部人文社会科学研究规划基金项目（09YJC630121）；教育部人文社会科学研究青年基金项目（11YJC790163）；江苏省教育厅高校哲学社会科学基金指导项目（2013SJB790030）。 （）
