金融生态环境、银行关联与企业风险--基于我国上市公司的经验数据

摘要

This paper studies the relationship between bank correlation and enterprise risk under different financial ecological environment. We find: the risk of bank related enterprises will be smaller as financial ecological environment goes better; government administration, financial development, and the culture of integrity will play an important role in reducing the risk of bank related enterprises. In addition, the financial ecological environment can effectively reduce the risk of small scale and non state-owned enterprises. The result of this paper enriches the literature in the field of economic consequences associated with bank correlation and enterprise risk. It also helps bank related enterprises strengthen their risk management, and it provides certain references to the reform of the financial system of our country.%本文以我国2006～2010年沪深两市的A股上市公司为样本，研究了在不同的金融生态环境下，银行关联与企业风险的关系。研究发现：金融生态环境越好，银行关联企业的风险越小；进一步区分金融生态环境指标中各因素后发现政府治理、金融发展、诚信文化水平的提高对降低银行关联企业的风险效果更好。另外，良好的金融生态环境可以有效降低小规模和非国有的银行关联企业的风险，在大企业和国有企业中则不明显。本文的研究成果丰富了银行关联的经济后果以及企业风险领域的文献，有助于银行关联企业加强自身风险管理，并为国家正在实行的金融体制改革提供一定的参考依据。