我国银企关系与企业融资约束分析

Research of the Bank-enterprise Relation and Financing Constraints in China

银企关系对于企业融资约束水平和融资效率具有重要影响。紧密型银企关系有利于降低企业融资约束水平,但在银行业高度集中的前提下,这种密切的银企关系也会给企业融资带来一定的负面影响。在转轨经济时期,我国银企关系出现某种程度的异化。在行政和市场双重影响下,国有银行与国有企业之间呈现依附型关系,使得国有企业融资效率极其低下。而国有银行与民营企业之间则呈现割裂型银企关系,使得民营企业面临严重的融资约束。因此,加快银行和企业改革步伐,构建正常的市场化的银企关系是十分必要的。

The bank - enterprise relation has important influence on financing constraints and financing efficiency of the enterprise. The close bank - enterprise relation can reduce the level of enterprise financing constraints . But in the condition of high - centralized banking, the close bank - enterprise relation also has some bad influence on the latter. The bank - enterprise relation is distinctive in China. Under the influence of administration and market, the state - owned enterprises adhere to the state - owned banks. That results in low financing efficiency . On the contrary, the private enterprises are nearly disseverred from the state - owned banks, confronted with high financing constraints. So it＇ s necessary to quicken the reform of bank and enterprise, construct the natural market bank - enterprise relation.