新破产法对商业信用发挥破产威胁效应的影响  

Impact of the New Bankruptcy Law on the Bankruptcy Threat Effect of Trade Credit

作　　者：周雪峰[1] 

机构地区：[1]郑州航空工业管理学院会计学院,河南郑州450015

出　　处：《首都经济贸易大学学报》2016年第3期103-109,共7页Journal of Capital University of Economics and Business

基　　金：国家社会科学基金项目"货币政策传导效应中的社会资本作用机理研究"(14BGL037)

摘　　要：以沪深两市A股上市公司2003—2013年数据为研究样本,构建相关模型,采用分阶段回归、单差分和双差分方法,实证检验新破产法实施对商业信用发挥破产威胁效应的影响。研究发现,新破产法实施之前,商业信用难以发挥破产威胁效应,而新破产法实施以后,商业信用能够发挥破产威胁效应,即新破产法实施能够改善商业信用难以发挥破产威胁效应的局面。This paper establishes a model during the period of 2003--2013, and uses the for analyzing A - share listed companies of Shanghai and Shenzhen phased regression, difference, difference in difference methods to analyze the implementation of the new bankruptcy law＇s impact on the bankruptcy threat effect of trade credit. This study finds that trade credit could hardly give the effect of bankruptcy threat before the implementation of the new bankruptcy law. On the contrary, trade credit could give the effect of bankruptcy threat after the implementation of the new bankruptcy law. Namely, the implementation of the new bankruptcy law could improve the situation in which trade credit hardly gives the effect of bankruptcy threat.

关 键 词：新破产法 商业信用 破产威胁效应 财务困境 

分 类 号：F830[经济管理—金融学]