作　　者： ;

机构地区： 浙江财经大学会计学院

出　　处： 《财经理论研究》 2015年第5期83-91,共9页

摘　　要： 以中国A股非金融类上市公司为样本,本文检验银行关联是否能影响企业在投资决策中的风险承担。通过企业董事、总经理和财务总监的银行任职经历来判断企业是否具有银行关联,检验结果发现:(1)有银行关联的企业比无银行关联的企业具有显著更高的风险承担水平;(2)银行关联的风险承担效应主要源自曾任的银行关联和国有的银行关联;(3)相对于非国有企业,银行关联对国有企业投资决策中风险选择的影响显著更小。 Using data of non- financial listed companies in China,this paper tests whether the firms that appoint current or former employees of banks as managers have higher level of risk- taking than their counterparts.We find that there is a significantly positive association between banking connection and corporate risk- taking.Furthermore,the effect of banking connection on corporate risk- taking is mainly from the former banking connection and the state- owned banking connection. Further results show that the relationship between banking connection and corporate risk- taking is much weaker for state- owned enterprises.

关 键 词： 银行关联 所有权性质 企业风险承担

领　　域： [经济管理—金融学]