金融集聚对企业融资行为的影响分析

The Effect of Financial Agglomeration on the Business Financing Behavior

金融集聚是金融资源在空间上的转移和集中,这种转移和集中使得处于金融集聚区的企业能够以更低的成本获得融资。金融集聚对企业融资行为的影响表现为可以降低企业融资的时间成本、公关成本以及应对金融环境不稳定的风险成本。研究以各省市2013年发行A股的各上市公司的财务数据作为样本数据,以金融集聚对企业融资行为的影响作为出发点进行实证分析,结果表明:金融集聚度与企业的融资成本呈负相关,即金融集聚降低了企业的融资成本。

Financial agglomeration is the transfer and concentration of financial resources in space , which might provide a chance for the zone enterprises to obtain financing at lower cost .Financial agglomeration can reduce the time cost , public relation cost and risk cost of enterprise financing .Using the financial data of those provinces issuing A shares in 2013 as a sample , the paper makes an empirical analysis of the effect of financial agglomeration on enterprises ＇financing behavior .The results show that the financial agglomeration is negatively correlated with the enterprise financing cost , namely the financial agglomeration reduces the financing cost .