智慧法院与企业商业信用——基于互联网法院设立的经验证据  

Smart Courts and Corporate Trade Credit:Empirical Evidence Based on the Establishment of the Internet Courts

作　　者：郑曼妮 郑佳仪 Zheng Manni;Zheng Jiayi

机构地区：[1]华南师范大学经济与管理学院 [2]西南财经大学财政税务学院

出　　处：《统计研究》2024年第9期138-149,共12页Statistical Research

基　　金：国家自然科学基金青年项目“基于数字经济的市场竞争结构与企业投资行为决策研究”(72102078);广东省基础与应用基础研究基金面上项目“基于互联网法院设立的智慧法院建设与企业融资研究”(2023A1515011224)。

摘　　要：商业信用是社会信用体系中不可或缺的一环,然而部分企业的信用状况仍有待改善。智慧法院是顺应科技发展的司法创新实践。本文借用互联网法院设立的准自然实验,构建多期双重差分模型,检验智慧法院的设立对企业商业信用融资的影响。研究发现,智慧法院的设立提高审判效能并简化诉讼流程,这使得存在违法行为的企业更容易被追究责任,从而增加其被诉的频率及涉案金额,供应商为降低违约风险,减少对其提供商业信用,故企业商业信用融资受到抑制。商业信用融资受到抑制的企业主要位于经营环境较差地区,智慧法院的设立有利于规范地区企业融资行为。智慧法院的设立对于市场势力较弱企业的商业信用融资抑制作用更大,支持买方市场理论。本文为探讨智慧法院建设的经济效应提供了经验证据,并补充了司法与诉讼对企业商业信用融资的影响研究。Trade credit is an indispensable part of the social credit system,but the credit situation of some firms still needs to be improved.The new round of technological revolution is accelerating,and the smart courts are the product of judicial development with the help of science and technology.This paper uses the establishment of Internet courts as a quasi-natural experiment and constructs a time-varying DID model to test the impact of the establishment of smart courts on firms’trade financing.The results show that the establishment of smart courts bolsters judicial efficiency and streamlines litigation,facilitating the accountability of enterprises engaged in illegal activities and consequently elevating both the frequency of lawsuits against them and the financial stakes involved.In order to reduce default risk,suppliers reduce the provision of trade credit to firms,so that corporate trade credit financing is inhibited.In addition,enterprises whose trade credit financing is inhibited are mainly those located in areas with poor business environment.This suggests that the establishment of smart court facilitates the regulation of regional corporate financing practices.It is further found that the establishment of smart courts has a greater disincentive effect on trade credit financing for firms with weaker market power,which supports the buyer’s market theory.This paper contributes to the research on“law and finance”and provides empirical evidence on the economic effects of smart courts.It also supplements the research on the impact of justice and litigation on corporate trade credit financing.

关 键 词：智慧法院 商业信用 诉讼 互联网法院 法与金融 

分 类 号：F275[经济管理—企业管理]