【作者】 胡奕明； 周伟；

【机构】 上海交通大学安泰管理学院； 上海财经大学；

【摘要】 为观察我国银行对借款企业是否具有监督作用,我们利用上市公司年报披露的银行贷款数据,分析了银行贷款政策(贷款数量、期限与保证方式)与企业财务状况之间的关系,发现两者之间存在一定联系,但不是很明确。两者之间要么不相关,要么相关但不合理,相关又合理的财务指标总体上偏少。也就是说,银行通过某些贷款政策的改变来传导监督压力其效力是有限的。此外,我们还发现,贷款政策与一些非财务指标之间存在合理相关关系,说明银行在贷款政策制定中对非财务指标给予了一定的重视。更多还原

【Abstract】 This paper examines whether the banks have the monitoring effect on the borrowing firms and what the relation is between the bank loan policy(amount,term and security) and the financial situation of the firms,based on the analysis on the data disclosed in annual reports of the listed companies. Some financial variables are insignificant with the loan policy,some significant but unreasonable,only a few are both significant and reasonable.So the relation of them is not specific,which means that bank monitoring effect is quite limilited since the pressure could not be transmitted to the firms by changing the loan policy.However,some nonfinancial variables are significant and reasonable which implies some nonfinancial factores might be inspected in the loan policy making.更多还原