摘要
有效处置僵尸企业并化解过剩产能必须对僵尸企业有更实质的了解。本文以企业、银行、政府三方基于利益最大化的博弈视角分析僵尸企业的成因,在国内外有关僵尸企业识别方法的基础上,结合中国特有的制度环境,构建同时满足企业陷入财务困境、银行给予信贷支持和依赖政府生存三个条件的识别指标体系,尝试弥补已有识别方法的欠缺。并以钢铁行业僵尸企业进行验证及后果分析,发现僵尸企业由非僵尸阶段向僵尸阶段演变,获得的信贷资源更多。
Effective disposal of zombie enterprises and solution of excess capacity must have a more substantial understanding of zombie enterprises. This paper analyzes the causes of zombie enterprises from the game perspective based on the maximization of interests of business, bank and government. On the basis of the zombie enterprise identification methods at home and abroad, combined with China＇s unique institutional environment, this paper constructs the identification index system, which can meet the three conditions： the enterprises are in financial distress, banks give credit support and the survival is relied on government, to make up for the lack of existing identification methods. And the zombie enterprises in steel industry are verified and the consequences is analyzed, and it finds that when the zombie enterprises is evolving from the non-zombie stage to the zombie stage, they can get more credit resources.
出处
《价值工程》
2017年第32期60-64,共5页
Value Engineering
基金
国家自然科学基金项目"会计信息质量在信贷资源配置中的识别意愿
识别技术及经济后果研究"(71462004)的资助
关键词
僵尸企业
自生能力
经营困境
政府补助
银行信贷
zombie enterprises
viability
business difficulties
government subsidies
bank credit
