商业信贷与银行信贷:替代还是互补

被引：7

作者：

阳佳余 ^{[1
]}

杨蓓蕾 ^{[2
]}

机构：

[1] 南开大学经济学院

[2] 渤海银行北京分行

来源：

当代经济科学 | 2013年 / 35卷 / 05期

关键词：

商业信贷; 银行信贷; 替代关系;

D O I：

暂无

中图分类号：

F830.5 [信贷]; F224 [经济数学方法];

学科分类号：

1201 ; 020204 ; 0701 ; 070104 ;

摘要：

普遍认为商业信贷能够缓解企业面临的融资约束困境,为企业融资提供替代性方案。本文采用中国上市公司1999-2009年面板数据,研究企业商业信贷与银行信贷的关系。研究表明,虽然商业信贷与银行信贷存在替代关系,但这一效应因银行信贷期限结构、企业所处供应链地位存在差异。内源资金丰厚、流动比率高、财务成本高的企业较少使用商业信贷,而有形资产占比高、存货比率高的企业则更依赖商业信贷。分类研究发现,对于成立年限短的企业和资产规模大的企业而言,商业信贷和银行信贷的替代关系更强。

引用

页码：20 / 31+124 +124-125

页数：14

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