Ownership, Creditor Protection and Firms' Credit Loans
Ownership, Creditor Protection and Firms' Credit Loans
复制标题
DOI：
--
复制
发表时间：
2009
影响因子：
3.5
通讯作者：
Shen Kun-ron
中科院分区：
文献类型：
--
作者：
Shen Kun-ron
本文以2001 ~2005年中国上市公司数据为基础，实证分析了不同所有制和政府干预下债权人保护对信用贷款的影响。结果表明，中国国有上市公司获得的信用贷款确实多于非国有上市公司，而且债权人保护较好的地区的公司获得的信用贷款更多。然而，在政府干预力度较大的地区，随着债权人保护水平的提高，即使国有上市公司也难以借入银行贷款，国有上市公司与非国有上市公司在借入银行长期贷款方面没有显著差异。
Based on the data of China's listed companies during 2001 ~2005 periods, this paper empirically an- alyzes the effect of creditor protection on credit loan under different ownership and government intervention. The results show that China's state-owned listed companies do get more credit loan than non-state-owned listed com- panies and the firms in the regions with better creditors protection can have more credit loan. However, in the regions where has strong government intervention, along with the improving of creditor protection, even state- owned listed companies have difficult to borrow bank loans, and there is no significant difference in borrowing long-term bank loans between state-owned listed companies and non-state-owned listed companies.