| 金融发展、银行贷款与公司投资 |
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| 引用本文： | 江伟.金融发展、银行贷款与公司投资[J].金融研究,2011(4). |
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| 作者姓名： | 江伟 |
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| 作者单位： | 暨南大学会计学系; |
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| 基金项目： | 国家自然科学基金重点项目(71032006); 面上项目(70702040)的资助 |
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| 摘 要： | 本文从公司投资的角度,考察了我国银行贷款的控制效应,结果表明,我国的银行贷款对于上市公司的过度投资行为具有控制效应,但是这一控制效应并没有随着我国地区金融发展水平的逐渐提高而有所增强;进一步的研究发现,银行贷款对于民营上市公司的控制效应要强于国有上市公司,而且前者的控制效应会随着地区金融发展水平的提高而有所增强,始于2003年的银行业第三阶段的改革,对于两类公司中银行贷款的控制效应都没有起到加强的作用。
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| 关 键 词： | 金融发展 银行业改革 控制效应 |
Financial Development,Bank Loans and Corporate Investment |
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| JIANG Wei.Financial Development,Bank Loans and Corporate Investment[J].Journal of Financial Research,2011(4). |
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| Authors: | JIANG Wei |
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| Abstract: | On the perspective of corporate investment,this paper examines the control effect of bank loans in China.The empirical results show that,bank loans have control effect on overinvestment problem in the Chinese listed companies,but this control effect does not strengthen with regional financial development in China, the third-stage banking reform beginning in 2003 also does not enhance this control effect Further evidence shows that the control effect of bank loans is stronger in private listed companies than... |
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| Keywords: | financial development banking reform control effect |
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