[4]Berglof E. and P. Bolton.The great divide and beyond: financial architecture in transition[J].Journal of Economic Perspectives, 2002,16(1):77-100.
[5]孫錚,劉鳳委,李增泉.市場化程度、政府干預與企業債務期限結構——來自我國上市公司的經驗證據[J].經濟研究,2005,(5):52-63.
[6]方軍雄.所有制、制度環境與信貸資金配置[J].經濟研究,2007,(12):82-92.
[7]杰拉德·克里根. 銀行體系改革:中國應選擇哪種模式?[J].國際金融研究,2002,(5):21-22.
[8]Ge Y. and J. Qiu,Financial development, bank discrimination and trade credt[J].Journal of Banking and Finance,2007,31(2):513-530.
[9]廖秀梅.會計信息的信貸決策有用性:基于所有權制度制約的研究[J].會計研究,2007,(5):31-38.
[10]馮曉雷,馮曉普,王淑俠.企業所有權性質與銀行信貸可獲得性[J].金融論壇,2013,(3):27-36.
[11]林毅夫,李志赟. 中國的國有企業與金融體制改革[J].經濟學(季刊),2005,(4):913-936.
[12]胡奕明,謝詩蕾. 銀行監督效應與貸款定價——來自上市公司的一項經驗研究[J].管理世界,2005,5:27-36.
[13]Fan J. P. H., S. Titman and G. Twite.An international comparison of capital structure and debt maturity choices[J].Journal of Finance, 2007,47(1):23-56.
[14]余明桂,潘紅波.政府干預、法制、金融發展與國有企業銀行貸款[J].金融研究,2008,(9):1-22.
(責任編輯:寧曉青)
Ownership, Industrial Policy Guidance and Bank Loan Interest Rate
YE Jianguang,LI Yanhong
(College of Economics, Jinan University, Guangzhou 510632,China)
Abstract:Whether industrial policy has value in the decision process of bank loan interest rate? This paper, based on the micro survey data of bank credit audit, studies the influence of industrial policy guidance on the nonlisted firm loan interest rate. The results show that: (1) the key supported firms and the generally supported firms with the industrial policy guidance always enjoy preferential bank loan interest rates, which indicate that commercial banks properly implement the industrial policy; (2) compared with privateowned enterprises, the stateowned enterprises which have a close relationship with the government get lower loan interest rate. To a certain extent, the credit decisionmaking of commercial banks illustrates the financial discrimination in the nature of ownership.
Key words:Industrial Policy Guidance; Bank Loan Interest Rate; Ownership
[5]孫錚,劉鳳委,李增泉.市場化程度、政府干預與企業債務期限結構——來自我國上市公司的經驗證據[J].經濟研究,2005,(5):52-63.
[6]方軍雄.所有制、制度環境與信貸資金配置[J].經濟研究,2007,(12):82-92.
[7]杰拉德·克里根. 銀行體系改革:中國應選擇哪種模式?[J].國際金融研究,2002,(5):21-22.
[8]Ge Y. and J. Qiu,Financial development, bank discrimination and trade credt[J].Journal of Banking and Finance,2007,31(2):513-530.
[9]廖秀梅.會計信息的信貸決策有用性:基于所有權制度制約的研究[J].會計研究,2007,(5):31-38.
[10]馮曉雷,馮曉普,王淑俠.企業所有權性質與銀行信貸可獲得性[J].金融論壇,2013,(3):27-36.
[11]林毅夫,李志赟. 中國的國有企業與金融體制改革[J].經濟學(季刊),2005,(4):913-936.
[12]胡奕明,謝詩蕾. 銀行監督效應與貸款定價——來自上市公司的一項經驗研究[J].管理世界,2005,5:27-36.
[13]Fan J. P. H., S. Titman and G. Twite.An international comparison of capital structure and debt maturity choices[J].Journal of Finance, 2007,47(1):23-56.
[14]余明桂,潘紅波.政府干預、法制、金融發展與國有企業銀行貸款[J].金融研究,2008,(9):1-22.
(責任編輯:寧曉青)
Ownership, Industrial Policy Guidance and Bank Loan Interest Rate
YE Jianguang,LI Yanhong
(College of Economics, Jinan University, Guangzhou 510632,China)
Abstract:Whether industrial policy has value in the decision process of bank loan interest rate? This paper, based on the micro survey data of bank credit audit, studies the influence of industrial policy guidance on the nonlisted firm loan interest rate. The results show that: (1) the key supported firms and the generally supported firms with the industrial policy guidance always enjoy preferential bank loan interest rates, which indicate that commercial banks properly implement the industrial policy; (2) compared with privateowned enterprises, the stateowned enterprises which have a close relationship with the government get lower loan interest rate. To a certain extent, the credit decisionmaking of commercial banks illustrates the financial discrimination in the nature of ownership.
Key words:Industrial Policy Guidance; Bank Loan Interest Rate; Ownership