网络司法拍卖与信贷资源供给  

Online Judicial Auction and Credit Resources Supply

作　　者：潘越[1] 纪翔阁 杨玲玲 宁博[3] PAN Yue;JI Xiangge;YANG Lingling;NING Bo(School of Economics,Xiamen University;Xiamen National Accounting Institute;School of Management,Xiamen University)

机构地区：[1]厦门大学经济学院,福建厦门361005 [2]厦门国家会计学院,福建厦门361005 [3]厦门大学管理学院,福建厦门361005

出　　处：《金融研究》2023年第11期170-187,共18页Journal of Financial Research

基　　金：国家自然科学基金项目(72302200、72102201、72172134)的资助。

摘　　要：本文基于阿里司法拍卖平台的独特数据,考察党的十八大以来各地方法院逐步推行网络司法拍卖如何影响信贷资源配置。结果显示:(1)网络司法拍卖显著提高了地方性商业银行的信贷供给水平。其作用机制在于,网络司法拍卖通过提高司法执行效率和促进司法执行公正,使得银行债权得到更好的保护,进而提高银行信贷供给水平;(2)当地区内房产拍卖比例较高、传统司法拍卖的基础条件较差以及司法拍卖的市场需求较大时,前述影响更为明显;(3)网络司法拍卖带来的信贷资源增量供给,显著缓解了中小企业(特别是民营企业)的融资约束难题。本文首次实证检验了网络司法拍卖的微观经济影响,对促进“法治体系-金融系统-实体经济”协调并进具有重要的政策参考价值。China is actively exploring new paths,fields,and models for the deep integration of“digital technology and justice”,which is an important measure in building a rule-of-law business environment in the new era,significantly accelerating social justice.Since the 18th National Congress of the Communist Party of China,the rapid development of emerging digital technologies has provided an excellent opportunity for China's judicial digitalization reform.Judicial auction,an important method for disposing involved properties in legal cases,is crucial in protecting the rights of all parties involved and relates to the goal of“thoroughly resolving the‘last kilometer’of difficulties in execution”.It serves economic functions such as resolving breach of contract debts and maintaining financial system stability.Promoting online judicial auctions nationwide is one of the most significant reforms of“digital technology and justice”.However,both academic and practical circles lack necessary attention and discussion on the economic role of online judicial auction.Online judicial auction is a legal execution process where courts at all levels dispose of properties through internet auction platforms and online electronic bidding.Compared to traditional consignment auction,online judicial auction has obvious advantages:it simplify procedures,break geographical boundaries,significantly expand buyer reach,thus enhancing judicial execution efficiency and rapid asset realization.Additionally,introducing third-party online platforms ensures transparency,promoting fairness in judicial execution.Broad market participation maximizes transaction prices through competitive bidding,safeguarding“creditors'rights”.In China,cases involving judicial auctions often relate to credit-debt disputes.With the promotion of online judicial auctions,banks,as representatives of creditors,become primary beneficiaries.It's generally believed that increased value and faster debt recovery positively affects banks'lending.Online judicial auctio

关 键 词：数字司法 信贷资源供给 网络司法拍卖 银行贷款 

分 类 号：D922.29[政治法律—经济法学] D926.2[政治法律—法学]