中小银行如何影响科技企业进入——来自城市商业银行设立与跨区比较的经验证据

How do Small and Medium-Sized Banks Affect the Start-Ups of Science and Technology?Empirical Evidence from the Establishment of City Commercial Banks and Cross-Regional and Local Comparisons

本文基于2003—2015年全国工商企业注册信息数据与城市商业银行数据,将城市商业银行视为中小银行代表,以城市商业银行设立与网点扩张作为外生冲击,实证检验中小银行对科技企业进入的影响以及作用机制。研究发现,无论是本地城市商业银行还是跨区经营城市商业银行,均有助于促进科技企业进入;本地城市商业银行与跨区经营城市商业银行促进科技企业进入的作用机制存在差异,其中,本地城市商业银行通过提升信贷可得性与地方政府扶持配套促进科技企业进入,跨区经营城市商业银行通过金融市场竞争促进科技企业进入。进一步的异质性影响分析表明,高技术产业(制造业)规模更大以及行政级别更高地区的城市商业银行促进科技企业进入的作用效果更明显。本文的研究加深了对中小银行与科技企业进入之间关系的理解,为更好地发挥中小银行促进科技企业进入的作用提供了有益的政策启示。

Based on the national industrial and commercial registration data and city data from 2003 to 2015,this paper regards urban commercial banks as the representatives of small and medium-sized banks,takes the establishment and network expansion of urban commercial banks as the exogenous impulse,and empirically tests the impact of small and medium-sized banks on the start-ups of science and technology as well as the related mechanism.The study has found that both local urban commercial banks and cross-regional urban commercial banks are helpful for promoting the start-ups of science and technology.Furthermore,local urban commercial banks mainly promote the start-ups of science and technology by improving the availability of credit and support from local governments,and cross-regional urban commercial banks mainly do so by strengthening financial market competition.The heterogeneity impact analysis shows that for cities with a large scale of hightech industry(manufacturing industry)and a high administrative level,the promotion effect of urban commercial banks on the start-ups of science and technology is more obvious.This study deepens the understanding of the relationship between small and medium-sized banks and the start-ups of science and technology,and sheds light on how to bring into better play the role of small and medium-sized banks in promoting the start-ups of science and technology.