中国金融业改革对双重信贷配给影响的实证检验  

An Empirical Test of the Influence of China's Financial Sector Reform on Dual Credit Rationing

作　　者：朱秀丽[1] 钱友文[2] 

机构地区：[1]南京财经大学会计学院,江苏南京210046 [2]上海财经大学会计学院,上海200433

出　　处：《上海金融》2011年第12期28-33,共6页Shanghai Finance

基　　金：江苏省高校哲学社会科学基金项目"地方政府治理;盈余质量和信贷资源配置"(项目批准号:2011SJD630055)

摘　　要：双重信贷配给,指我国信贷市场对国有企业的信贷偏向(非均衡信贷配给,McKinnon,1973)和基于信息不对称原因造成的信贷配给(均衡信贷配给,Stiglitz和Weiss,1981)。本文采用深市A股上市公司2001-2009年的数据,检验了国有商业银行改革对双重信贷配给的影响,结果发现,随着利率市场化和国有银行改革的深入,民营上市公司遭遇非均衡信贷配给的程度减轻,而与信息透明度有关的均衡信贷配给的现象增强。Dual credit allocation refers to the non-equilibrium credit rationing due to discrimination （McKinnon, 1973） and equilibrium credit rationing due to information asymmetry （Stiglitz and Weiss,1981）. Based on the data of listed companies from Shenzhen Stock Exchange during 2001-2009, this paper investigates the influence of reform of state-owned commercial banks on dual credit allocation. The results show that with the deepening of liberalization of interest rate and reform of state-owned commercial banks, credit discrimination that non state-owned listed companies suffered is alleviated and equilibrium credit rationing is strengthened.

关 键 词：双重信贷配给 国有商业银行改革 国有控股上市公司 民营控股上市公司 

分 类 号：F830[经济管理—金融学]