银行业竞争与绿色企业融资——基于银行分支机构空间分布的实证检验  

Competition in the Banking Industry and Financing for Green Enterprises:Empirical Test Based on the Spatial Distribution of Bank Branches

作　　者：刘红忠[1,2,3,4] 刘思佳 LIU Hongzhong;LIU Sijia

机构地区：[1]复旦大学 [2]复旦大学金融研究中心 [3]复旦大学-杜伦大学联合金融研究中心 [4]复旦大学中国金融史研究中心 [5]复旦大学经济学院

出　　处：《新金融》2025年第1期19-28,38,共11页New Finance

基　　金：国家社会科学基金重大项目“促进实体经济高质量发展的金融结构优化与制度创新研究”(22&ZD117)。

摘　　要：企业作为实现绿色转型和绿色发展的重要载体,保证其信贷资金充足、提升其资源配置效率至关重要。本文基于银行分支机构数量及其空间分布特征,以2011—2020年中国上市绿色企业为研究对象,实证检验银行竞争对绿色企业融资行为的影响。研究表明:银行竞争有利于提高绿色企业债务融资水平、降低债务融资成本并延长其借贷期限。进一步地,银行竞争主要通过市场机制缓解绿色企业融资约束进而作用于其债务融资水平,且其效应随企业内部特征和外部环境变动而有所差异。上述结论丰富银行市场结构与企业融资行为相关领域研究,并为银行发展绿色金融、服务绿色企业提供经验支持。As an important carrier for achieving green transformation and development,it is crucial for enterprises to ensure sufficient credit funds and improve their resource allocation efficiency.This article is based on the number and spatial distribution characteristics of bank branches,and takes Chinese listed green enterprises from 2011 to 2020 as the research object to empirically test the impact of bank competition on the financing behavior of green enterprises.Research has shown that bank competition is beneficial for improving the debt financing level of green enterprises,reducing debt financing costs,and extending their loan terms.Furthermore,bank competition mainly alleviates the financing constraints of green enterprises through market mechanisms,thereby affecting their debt financing levels,and its effects vary with internal characteristics and external environmental changes of the enterprises.The above conclusions enrich the research on the relationship between banking market structure and corporate financing behavior,and provide empirical support for banks to develop green finance and serve green enterprises.

关 键 词：银行竞争 企业融资 绿色企业 绿色金融 

分 类 号：F832[经济管理—金融学]