摘要
以2002—2006年在沪深交易所上市的房地产上市公司为样本,研究产权与政治关系对房地产企业融资的影响。结果发现:房地产企业的融资同时受到所有制及政治关系的影响。房地产企业的政治关系能对其融资产生有利影响,但这也只有在民营房地产企业中表现才显著。这说明,民营房地产公司的政治身份更能提高其取得银行贷款的可能性。在金融业发达的地区,政治关系对房地产企业融资的影响小于金融业欠发达的地区。
The development of Real Estate Company is supported by bank credit.This paper purposes to examine the link between the relationship of property right and political connection and the real estate financing.Using samples of the listed real estate companies in Shanghai and Shenzhen Stock Exchange during 2002-2006,the study shows that the ownership and political connection affect the real estate financing.Only in the private real estate companies,has the political connection a significant positive effect on their financing,which means that political status increases the possibility to obtain the bank loans.In the financial services developed areas,the political connection has less impact on the real estate financing than that in the undeveloped areas.
出处
《财贸研究》
CSSCI
2010年第6期112-119,共8页
Finance and Trade Research
基金
国家自然科学基金青年项目"产权
政治关系与资源配置"(70902024)
中国博士后科学基金"中国城市休闲房地产发展与规制研究"(20090450503)
广东省自然科学基金"旅游体验结构研究"(94510632010029272)
中山大学青年教师培育项目及暨南大学引进优秀人才科研启动基金项目(51108603)
关键词
房地产上市公司
政治关系
产权
企业融资
listed real estate company
political connection
property rights
corporate financing
