金融发展、银行关联与民营企业贷款研究

Financial Development,Banking Dummies and Private Enteprise Loan

依据2010-2012年957个民营上市公司的面板数据，考量金融发展、银行关联与民营企业贷款之间的关系。结果发现，在金融发展不均衡的背景下，民营企业会通过银行关联来获得更多的贷款数额，特别是在金融发展水平相对较低的地区，银行关联对民营企业贷款的影响更加显著。因此，金融市场监管者应进一步深化金融体制改革，加快落后地区金融市场化的进程，拓宽民营企业融资渠道，降低民营企业融资成本。

Based on an analysis of the empirical data of 957 private companies listed from 2010 to 2012, it shows that under the background of imbalanced financial development, private enterprises will obtain more loans through Bank dummies, particularly, the bank loans in those areas where financial development level is relatively low; the financial market regulators should further deepen the reform of the financial system, accelerate the process of financial liberalization in less developed areas, broaden the financing channels of private enterprises, and reduce the private enterprise financing cost.