摘要
以2007-2014年600家非金融上市公司组成的平衡面板数据为样本,应用OLS回归、固定效应回归、随机效应回归、二元Logistic回归、有序Logistic回归等估计技术以及参数和非参数检验法,实证检验了社会资本、产品市场竞争与银行贷款融资之间的关系。实证结果表明:社会资本的发展水平越高,公司的银行贷款融资能力就越强;产品市场的竞争程度越高,公司的银行贷款融资能力就越强;产品市场竞争能够强化社会资本对银行贷款融资能力的正面影响。
The article empirically studies the relationship among social capital, product market competition and the bank loan financing through OLS estimating method, fixed-effect estimating method, random-effect estimating method, binary and ordered Logistic regression techniques, parametric and non-parametric tests, by utilizing 600 listed non-financial company samples over the period from 2007 to 2014 to form a balanced panel data. The empirical results show that, the development of social capital is remarkably positive to the firms＇ capability of bank loan financing; and there is also a positive correlation between the product market competition and the bank loan financing; the product market competition can strengthen the positive impact of social capital on the bank loan financing.
出处
《山西财经大学学报》
CSSCI
北大核心
2017年第1期28-39,共12页
Journal of Shanxi University of Finance and Economics
基金
国家自然科学基金面上项目(71472157)
国家自然科学基金面上项目(71272140)
国家自然科学基金青年科学基金项目(71002062)
关键词
社会资本
产品市场竞争
银行贷款融资
社会制度
social capital
product market competition
bank loan financing
social institutions
