银行竞争对上市公司信用风险的影响研究  

Research on the Effect of Bank Competition on Credit Risk of Listed Companies

作　　者：杨刚[1] 王瑞 王沈南[2] 卢树立 YANG Gang;WANG Rui;WANG Shennan;LU Shuli(School of Management,JiLin University,Changchun,13OO22,China;School of International Economics and Management,Beijing Technology and Business University,Beijing 100048,China;School of Business,Renmin University of China,Beijing 100872,China)

机构地区：[1]吉林大学管理学院,吉林长春130022 [2]北京工商大学国际经管学院,北京100048 [3]中国人民大学商学院,北京100872

出　　处：《中国软科学》2021年第10期103-114,共12页China Soft Science

摘　　要：目前,我国众多企业面临信用违约,债券市场的"刚兑"信仰打破,对防范系统性金融风险造成巨大挑战,研究企业信用风险的影响因素具有重要的现实意义和政策含义。本文从商业银行竞争的视角,以2001-2019年A股上市公司为样本,实证分析商业银行竞争对上市公司信用风险的影响。研究发现:(1)银行竞争显著提高了上市公司信用风险;(2)公司治理、内部控制等内部制度以及法律环境等外部制度越完善,越能抑制银行竞争对上市公司信用风险的负面影响;(3)相较于民营企业,银行竞争对国有企业信用风险的影响更加显著。建议:在微观层面,公司应加强内部控制建设,完善公司治理;在宏观层面,政府应改善法律环境,从而弱化银行竞争对企业信用风险的影响。At present, many enterprises in China are facing credit risk, and the belief of "rigid exchange" in the bond market is broken, which poses great challenges to the prevention of systemic financial risks. Therefore, it is of great practical significance and policy implications to research the influencing factors of enterprise credit risks. From the perspective of commercial bank competition, taking a-share listed companies from 2001 to 2019 as samples, this paper empirically analyzes the impact of commercial bank competition on the credit risk of listed companies, and finds that :(1) The commercial bank competition significantly improves the credit risk of listed companies.(2) The more perfect the internal system, such as corporate governance and internal control, and the external system, such as legal environment, the more able it is to restrain the negative impact of bank competition on the credit risk of listed companies.(3) Compared with private enterprises, banking competition has a more significant impact on the credit risk of state-owned enterprises. The policy implications of this paper as follow: at the micro level, the company should strengthen the construction of internal control, improve corporate governance. At the macro level, the government should improve the legal environment so as to weaken the impact of bank competition on enterprise credit risk.

关 键 词：银行竞争 信用风险 公司治理 内部控制 

分 类 号：F832[经济管理—金融学]