大股东持股比例对银行贷款契约的影响研究

A Study on the Influence of Big Shareholders' Share Proportion on Bank Loan Contract

以2001年-2006年中国上市公司为样本,实证检验第一大股东持股比例与银行借款债务融资契约的关系,发现国有上市公司第一大股东持股比例与银行贷款规模呈现开口向下的二次曲线关系,与长期借款比重呈现负相关关系;民营上市公司第一大股东持股比例与银行贷款规模呈现开口向上的二次曲线关系,与长期借款比重呈现U型关系。

This paper takes the Chinese listed companies during the years of 2001 to 2006 as the sample, tests empirically the relationship between big shareholder＇ s share proportion and bank loan debt financing contract and finds that the big shareholder＇ s share proportion in the state -owned companies presents an inverse U relationship with bank loan size and presents negative correlationship with the proportion of long - term hank loan. The big shareholder＇ s share proportion in the private companies presents a U relationship with bank loan size and presents a U relationship with the proportion of long - term bank loan.