上市公司委托贷款的形成机理研究  

Mechanism Analysis of Entrust Loan in Listed Companies

作　　者：李西文[1] 申富平[1] 周欢欢[1] 

机构地区：[1]河北经贸大学会计学院,河北石家庄050061

出　　处：《河北经贸大学学报》2015年第1期107-112,共6页Journal of Hebei University of Economics and Business

基　　金：国家社会科学基金项目"国家货币政策对上市公司委托贷款的影响研究"(12BJY016);河北省高等学校科学技术研究优秀青年基金项目"我省创业投资引导基金运作与战略性新兴产业发展的耦合机制研究"(SY12103)阶段性研究成果

摘　　要：金融危机爆发后,上市公司"委托贷款"频发,诸如ST波导1等ST类上市公司甚至趁机扭亏,这引起了市场对委托贷款业务合法性和合理性的大讨论。基于此,对上市公司委托贷款业务形成的动因和可能产生的经济后果等机理进行剖析,发现因经济过热等客观因素影响,使得上市公司过分追求经济利益,不考虑长期发展,从而造成催高资本成本,放大投融资风险与效益失衡。为此,必须完善法规建设,强化监管和信息披露机制,维护金融秩序。Since the financial crisis,there are a lot of ＂entrusted loans＂ in the listed companies, and even some ST listed companies took the opportunity to switch from deficit to profit, which caused the market to discuss the legitimacy and rationality of the entrusted loans. Analyzing the formative cause and economic consequences of entrusted loans in listed companies, we find that overheated economy and some objective factors make these companies excessively seak economic interests and don＇t consider long term development, which cause rise of capital cost, investment and financing backhaul and beneficial unbalance. Therefore, we must improve legal construction, strengthen the mechanism of supervision and information disclose, uphold financial order.

关 键 词：上市公司 委托贷款 货币政策 投融资风险 信息披露 经济利益 金融秩序 监管 

分 类 号：F832.4[经济管理—金融学]