社会信任、政治关系与民营企业商业信用模式  

Social Trust,Political Connections and Private Enterprises' Mode of Trade Credit

作　　者：王伟[1] 

机构地区：[1]西南交通大学经济管理学院,四川成都610031

出　　处：《广东财经大学学报》2015年第2期22-35,共14页Journal of Guangdong University of Finance & Economics

基　　金：国家自然科学基金项目(71472157;71272140)

摘　　要：以2006年-2013年间在沪深两市A股上市的民营企业为研究样本,从企业微观层面探讨社会信任、政治关系对民营企业商业信用模式的影响及两者对民营企业绩效水平的作用。结果表明：地区社会信任度越高,该地区民营企业将越少采用具有较高成本的商业信用模式,如应付票据、预付账款等;具有政治关系的民营企业较少采用具有较高成本的商业信用模式;对民营企业商业信用模式的影响,社会信任与政治关系二者间存在着替代关系;社会信任、政治关系都能够提高民营企业的绩效水平,但此时两者间不存在替代关系。This paper chooses the private companies listed in China＇s A Share Market during 2006 - 2013 as samples to explore the impact of social trust and political connections on private enterprises＇ mode of trade credit from the micro level,and their effects on the performance of private enterprises. The results show that： the higher the regional social trust is,the less private enterprises in the region will adopt high-cost trade credit modes,such as notes payable and prepayments; the private enterprises with political connections are also less likely to use high-cost trade credit patterns; the roles of social trust and political connections are interchangeable in terms of their influence on the mode of trade credit of private enterprises; social trust and political connections both are able to improve the performance of private enterprises,but there is no substitute relationship between them.

关 键 词：商业信用模式 民营企业 社会信任 政治关系 关系机制 社会资本 

分 类 号：F270[经济管理—企业管理] F276.5[经济管理—国民经济] F123.15