递延所得税信息与银行信贷决策——基于银行信贷配给和定价的研究  

Deferred Tax and Bank＇s Loan Decision

作　　者：孙红[1] 王乾斌[1] 李丽君[1] 

机构地区：[1]上海财经大学会计学院

出　　处：《中大管理研究》2011年第2期83-102,共20页China Management Studies

基　　金：国家自然科学基金项目(批准号:70972060)的阶段性成果;上海市浦江人才计划项目;上海市会计学会重点课题项目的资助

摘　　要：本文研究递延所得税信息在银行信贷决策中的作用。2006年颁布的会计准则要求上市公司统一采用资产负债表债务法进行所得税会计处理，由此产生了递延所得税信息，它体现的是会计利润与应税利润之间的暂时性差异。那银行在做信贷决策时是否会关注递延所得税信息；在银行存在信贷配给的情况下，递延所得税信息在银行的贷款审批和贷款定价环节其作用是否一样？这是本文研究的主要问题。由于选取有贷款数据的样本时存在选择性偏误（sampleselectionbias），本文采用了Heckman两步法以控制选择性偏误的影响。本文的研究结果表明：递延所得税信息会对银行的信贷决策产生影响；但是，递延所得税信息在银行信贷决策的不同阶段其作用是不一样的，在贷款审批阶段，银行主要关注递延所得税信息中所包含的风险和负债因素；而在同意贷款的情况下，银行更关注递延所得税信息所反映的资产质量状况。This paper investigates how information of deferred tax affect loan decision made by bank. The accounting standard issued in 2006 requires that all listed companies use balance sheet liability method to conduct accounting for taxation. As a result, for the first time we can get the information about deferred tax, which reflects the temporary difference between accounting profit and taxable profit. In this paper we plan to address two main problems. Firstly, does bank pay attention to the information of deferred tax when making loan-decision？ Secondly, under the circumstance of credit rationing, does deferred tax has some different influence in different stages of credit rationing and different stages of loan pricing. Because of sample selection bias when choosing loan data sample, we use the Heckman two-stage method to control this deficiency. The empirical result suggests that the information of deferred tax affects how bank makes its loan decision. Moreover, we find that the offect of deferred tax is different in different stages when bank makes its decision. Specifically, in the stage of loan approval, bank focuses on the information about risk and debt conveyed by deferred tax, while after approval, banks focuses on the condition of assvt quality implied by deferred tax.

关 键 词：递延所得税 信贷配给 贷款定价 

分 类 号：F832.4[经济管理—金融学] F224