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产融结合、产权性质与企业投资规模

Industrial-financial Integration, Ownership and Enterprise Investment Scale

Finance Analysis and Management / 2022,4(2): 49-65 / 2022-06-08 767 1158

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• Authors: 尹长萍¹ 钟丽² 罗涵³
• Information:

  1．重庆银行博士后科研工作站，重庆；
  2．重庆理工大学会计学院，重庆；
  3．西安大略大学国王学院，加拿大伦敦市

• Keywords:
  Industrial-financial integration; Ownership; Investment scale
  产融结合; 产权性质; 投资规模
• Abstract: This article examines the impact of the combination of entity enterprise and financial institution on enterprise investment scale, and explores the different effects of different ownership based on a sample of Chinese listed companies. The results suggest the combination of entity enterprise and financial institution has positive impacts on enterprise investment scale. Moreover, the positive impacts are more pronounced for private enterprise than state-owned enterprises. The above conclusions provide a basis for guiding the combination of entity enterprise and financial institution to promote the development of real enterprises. 本文以中国沪深A 股非金融类上市公司为研究样本，考察了实体企业参股金融机构实施产融结合对企业总体投资规模的影响，并进一步分析了不同产权性质下的差异性影响。研究发现，企业参股金融机构实施产融结合有助于给企业带来融资便利，提高企业投资规模，并且民营企业产融结合提高企业投资规模的效果要好于国有企业。上述结论为引导产融结合促进实体企业发展提供了依据。
• DOI: https://doi.org/10.35534/fam.0402006
• Cite: 尹长萍，钟丽，罗涵．产融结合、产权性质与企业投资规模［J］．金融分析与管理，2022，4（2）：49-65．