银行监管与企业融资的跨国实证分析

A Cross-country Empirical Analysis of Bank Regulation and Firm Financing

依据世界银行对各国银行监管与微观企业调查的跨国数据,运用实证分析方法,考量巴塞尔协议三大银行监管手段对企业融资的影响。结果发现:资本充足率要求与私营部门监测均会降低融资可得性,且对中小型企业的影响更大;而政府部门监管权力能提高企业融资可得性。鉴于此,监管机制设计应充分考虑不同政策的相互影响,特别是对中小型企业融资的冲击,慎重调整资本充足率与对私人监测程度的监管要求,妥善应用政府监测程度监管权力来实现金融稳定与企业融资的双赢,增强金融服务实体经济能力。

Based on the cross-country data of the World Bank’s surveys on banking supervision and micro-enterprises in various countries from 2006 to 2010,empirically studies the impact of the three means of banking supervision in Basel Accord on enterprise financing.The results show that both capital adequacy requirements and private sector monitoring will reduce enterprise financing availability,which is more obvious for small and medium-sized enterprises,while the regulatory power of government departments can improve the financing availability.According to these conclusions,the design of regulatory mechanism should fully consider the impact on the financing of enterprises,especially small and medium-sized enterprises.It also needs carefully adjust the capital adequacy ratio and the regulatory requirements for the private sector,and properly applies the regulatory power of government departments to achieve a win-win situation of financial stability,and enhance the real economy capability of financial services,and enhance the real economy capability of financial services.