银行业结构与中小企业融资约束

Banking Structure and Financing Constraints of SMEs--An Empirical Study from 368 Cities in China

利用2011—2015年工业企业数据,结合中国银行保险监督管理委员会发布的商业银行在各城市的分支机构数据,探讨我国银行业结构对中小企业融资约束的影响以及在缓解中小企业融资约束中占主导地位的四类商业银行(大型商业银行、股份制商业银行、城市商业银行和农村商业银行)作用大小的不同情况。研究结果表明,银行业竞争水平的提升对缓解中小企业融资约束具有积极作用,支持市场力假说;股份制商业银行和城市商业银行缓解中小企业融资约束的作用高于大型商业银行和农村商业银行,更具比较优势。同时,2015年至今,一方面我国银行业结构没有结构性变化,另一方面,我国中小企业发展情况趋于平稳,研究结论对当下改进中小企业融资支持政策具有政策适用性。

Based on the data of industrial enterprises from 2011 to 2015 and the data of commercial banks’branches in various cities released by China Banking and Insurance Regulatory Commission,this paper explores the impact of China’s banking structure on SMEs’financing constraints and different roles of the four types of com⁃mercial banks(large commercial banks,joint-stock commercial banks,urban commercial banks and rural commer⁃cial banks)that play a leading role in alleviating SMEs’financing constraints.The results show that:First,the im⁃provement of the competition level in the banking industry has a positive effect on easing the financing constraints of SMEs’,which supports the market power hypothesis;second,joint-stock and urban commercial banks play a high⁃er role in alleviating SMEs’financing constraints than large and rural commercial banks,and have more compara⁃tive advantages.Meanwhile,since 2015,on the one hand,there has been no structural change in the structure of Chi⁃na’s banking industry,and on the other hand,the development of China’s SMEs tends to be stable.Therefore,the research conclusions of this paper are also of policy applicability for improving the financing support policies of SMEs’at present.