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| 上下游企业的信任与赊销战略——兼论区域金融发展的干扰效应 | |
| 引用本文： | 屈耀辉,杜亚斌,傅元略,黄莲琴.上下游企业的信任与赊销战略——兼论区域金融发展的干扰效应[J].财贸研究,2012,23(3):140-148. |
| 作者姓名： | 屈耀辉 杜亚斌 傅元略 黄莲琴 |
| 作者单位： | 1. 南京大学,江苏南京,210093 2. 厦门大学,福建厦门,361005 3. 福州大学,福建福州,350002 |
| 基金项目： | 中国博士后基金项目，江苏省高校哲学社会科学基金资助项目，国家自然科学基金项目，教育部人文社会科学研究规划基金项目，福建省社会科学规划项目 |
| 摘 要： | 以沪深股市1990—2009年间的非金融上市公司为研究样本,利用Tobit模型和Inter-val模型对上下游企业的信任对上市公司赊销战略的影响以及区域金融发展对前两者关系的干扰效应展开研究。研究发现:上下游企业的总信任以及上游企业的信任会促使上市公司增加使用赊销战略,而下游企业的信任则会诱使上市公司减少赊销战略的使用;区域金融发展和上下游企业的总信任以及区域金融发展和上游企业的信任在对赊销战略的影响上是替代关系,但区域金融发展和下游企业的信任两者在影响公司赊销战略上的不确定关系仍待证实。 |
| 关 键 词： | 区域金融发展 上下游企业的信任 赊销战略 Tobit模型 Interval模型 |
Trust of Upstream Firm and Downstream Firm and Credit Strategy:The Interference Effects of Regional Financial Development |
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| QU Yao-hui , DU Ya-bin , FU Yuan-lue , HUANG Lian-qin.Trust of Upstream Firm and Downstream Firm and Credit Strategy:The Interference Effects of Regional Financial Development[J].Finance and Trade Research,2012,23(3):140-148. | |
| Authors: | QU Yao-hui DU Ya-bin FU Yuan-lue HUANG Lian-qin |
| Institution: | 1.Nanjing University,Nanjing 210093;2.Xiamen University,Xiamen 361005;3.Fuzhou University,Fuzhou 350002) |
| Abstract: | With Tobit and Interval model,this paper empirically studies influence of trust of upstream firm and downstream firm on credit strategy of listed-companies and interference effects of regional financial development on relationship between trust of upstream and downstream firms and corporate credit strategy.The study shows that the whole trust of upstream firm and downstream firm and trust of upstream can push corporate using more credit strategy and trust of downstream firm can induce firm to use less credit strategy.It is a substitute between regional financial development and the whole trust of upstream and downstream firm as well as regional financial development and trust of upstream firm in corporate credit strategy,and the uncertain relation between regional financial development and trust of downstream firm in corporate credit strategy need to be confirmed. |
| Keywords: | regional financial development trust of upstream firm and downstream firm credit strategy Tobit model Interval model |
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