货币政策影响下矿企债务融资风险研究  

Research on the Debt Financing Risk of Mining Enterprises under the Influence of Monetary Policy

作　　者：赖丹[1] 吴睿 

机构地区：[1]江西理工大学经济管理学院

出　　处：《财会通讯（中）》2018年第11期10-14,共5页Communication of Finance and Accounting

基　　金：国家社会科学基金一般项目"促进稀土行业持续健康发展的资源环境税收政策研究"(项目编号:12BJY137);国家自然科学基金应急研究项目"基于税费视角的稀土资源开发利用中的环境价值补偿政策研究"(项目编号:T1241024)阶段性研究成果

摘　　要：本文以2009～2016年沪深A股采矿业上市公司为研究样本,采用年度数据进行分析,基于宏观视角探讨货币政策对矿企债务融资风险的影响。结果表明,扩张型的货币政策能有效改善矿企债务融资风险,且在第二年改善效果最为显著;进一步分析发现,地域差异也影响货币政策调控效果的发挥,在货币政策宽松时期,发达省份矿企融资更具优势,债务融资风险更低。This paper concerns the Mining enterprises of A-shares as sample from 2009 to 2016 and analysises their yearly data,discusses the influences of Monetary Policy on the risk of debt financing of the Mining enterprisesbased on the macro perspective.The results shows that the expansionary Monetary Policy can efficiently reduce the risk of debt financing,and the improvement effect is most significant in second year.And the further analysis indicates that differences of region also influence the results what the Monetary Policy plays in Mining enterprises,Which is,during loose period,the developed provinces Mining enterprises have an advantage in financing and lower risk of debt financing over the developing one.

关 键 词：货币政策 矿业企业 债务融资风险 地域差异 

分 类 号：F426.1[经济管理—产业经济] F406.7F832.51