企业融资需求、成长性、金融服务与银行信贷可得性——基于A股上市公司的经验证据.docVIP

企业融资需求、成长性、金融服务与银行信贷可得性——基于A股上市公司的经验证据 爸画 ／西 ／．经 大／学／学／教 Jouroat of Shanxi University of Finance and Economics Sep．，2016 V01．38 No．9 DOI编码：10．13781／j．cnki．1007-9556．2016．09．004 企业融资需求、成长性、金融服务 与银行信贷可得性 基于A股上市公司的经验证据 张海君 (东北财经大学 会计学院，辽宁 大连 116025；山东工商学院 会计学院，山东 烟台 264005) [摘 要]~X2007—2014年A股主板上市公司为样本 ，实证检验 了企业融资需求与银行信贷可得性之间的关系，以及金融服 务对这种关系的影响。研究发现，企业融资需求与银行信贷可得性之间存在负向关系，金融服务对这种负向关系具有显著的改 善作用。对成长性企业和不同产权性质的高成长性企业的进一步分析发现，成长性企业以及高成长性民营企业融资需求与银行 信贷可得性之间的负向关系更显著，金融服务对缓解这种 负向关系作用明显。 [关键词]融资需求；成长性；金融服务；银行信贷可得性；产权性质 [中图分类号]F830．9 【文献标识码]A [文章编号]1007—9556(2016)09—0039—14 Corporate Financing Demand，Growth Profitability，Financial Services and Bank Access to Credit — - — — — - — — Evidence from A-share Listed Companies ZHANG Hai-iun (School of Accounting，Dongbei University of Finance and Economics，Dalian 1 16025； School of Accounting，Shandong Technology and Business University，Yantai 264005，China) Abstract：Taking A—share listed companies from 2007 to 2014 as sample．this paper tests the relationship between corporate fi— nance demand and bank access to credit，then tests the impact of financial services on this relationship．The paper finds that there is a negative relationship between corporate financing demand and bank access to credit，and financial services have a significant effect on this negative relationship．Further testing about high companies with growth profitability and companies with high growth profitability and different property rights，this paper finds that the negative relationship between financing demand and bank access to credit is more significant during companies with growth profitability and non—state owned companies with high growth profitability，and finan— Cial services have a significant effect on this negative relationship． Key W ords：financing demand；growth profitability；financial services；bank access to credit；property fight [收稿日期]2016—08—20 [基金项目]教育部人文社会科学研究项 目(15YJA630026)；山东省社会科学规划研究项目(15CGLJ20) 【1乍者简介]张海君(1977一)，女，黑