信贷价格歧视与银企共生关系

Price Discrimination and the Symbiotic Relationship between Banks and Enterprises

银企之间存在共生关系,信贷的价格歧视是影响银企共生关系的重要因素。本文通过某股份制商业银行2016年的企业贷款真实数据,采用处理效应模型(Treatment Effect Model, TEM),在对所有制内生性问题进行修正的基础上,聚焦于信贷的价格歧视问题研究,并以信贷违约为银企共生关系的代理变量,重点分析了信贷的价格歧视对银企共生关系的影响。实证研究表明:一是与国企相比,民企贷款利率偏高,确实存在信贷的价格歧视;二是银行针对民企个体信贷的事前价格歧视,此举会使得民企群体的事后违约上升,说明信贷的价格歧视损害了银企共生关系。本文的研究结论为构建新型银企共生关系提供了政策建议。

There is a symbiotic relationship between banks and enterprises,but Price discrimination is an important factor that damages the symbiotic relationship between banks and enterprises.This paper uses the real data of a joint stock bank in 2016,uses the Treatment Effect Model(TEM),and focuses on the study of the Price discrimination on the basis of the correction of the endogenous issues of the ownership.then default is regarded as the proxy variable of the symbiotic relationship between banks and enterprises,further analyzes the influence of Price discrimination on the symbiotic relationship between banks and enterprises.Empirical research shows that the private enterprises have suffered a higher loan interest rate compared with the state-owned enterprises,indicating that the private enterprises have indeed suffered from the Price discrimination.The bank’s Price discrimination against individual private enterprises before the event will increase the probability of default of the whole private enterprise group after the event,which will damage to the symbiotic relationship between banks and private enterprises.The conclusions provide policy recommendations for the construction of symbiotic new relationship between banks and enterprises.