非金融企业的影子银行业务对企业风险承担的影响研究——基于外部冲击的视角
Study on the impact of shadow banking business of non-financial enterprises on enterprise risk-taking:From the perspective of external shock
林婕琪 1徐少君1
作者信息
- 1. 浙江理工大学经济管理学院,杭州 310018
- 折叠
摘要
近年来,非金融企业持续涉足影子银行业务,逐渐成为影子银行领域的融资主体.为了进一步探究企业影子银行业务与风险承担的关系,文章以2007-2022年中国沪深A股市场非金融上市企业为研究对象,探讨外部冲击事件对企业影子银行业务及其风险承担的影响,并考虑产权性质的差异.实证结果表明:外部冲击会抑制非金融企业的影子银行业务对风险承担的正向影响;相较于国有企业,外部冲击的影响对非国有企业更加显著.该研究不仅拓展了有关影子银行业务与企业风险承担的研究,而且对政府和企业决策具有重要启示.
Abstract
Recently,non-financial enterprises continue to participate in the shadow banking business and gradually become the main body of the shadow banking field.In order to further explore the relationship between enterprise shadow banking business and risk-taking,this paper selects the non-financial listed enterprises in Shanghai and Shenzhen A-share markets of China from 2007 to 2022 as the research object,discusses the impact of external shocks on the shadow banking business and risk-taking of enterprises,and considers the differences in the nature of property rights.The empirical results indicate that:external shocks will inhibit the positive impact of non-financial firms'shadow banking business on risk taking;compared with state-owned enterprises,the impact of external shocks on non-state-owned enterprises is more significant.The research not only expands the research on shadow banking business and enterprise risk-taking,but also has important implications for the decision-making of governments and enterprises.
关键词
影子银行业务/风险承担/产权性质/外部冲击/非金融企业Key words
shadow banking business/risk-taking/property right nature/external shock/non-financial enterprises引用本文复制引用
出版年
2024
NETL
NSTL
万方数据