Abstract In recent years, China’s banking reform has intensified the competition in the banking industry, effectively alleviated the problem of difficult and expensive financing for enterprises, and affected the financial behavior of enterprises’ “maturity mismatch”. Taking A-share listed companies as the research samples, the paper conducts empirical tests and finds that the more competition in the banking industry, the more serious the enterprises’ “maturity mismatch” is, and the conclusion is unchanged after the robustness test. It is found that banking industry competition deepens the long-term investment intention, reduces the debt financing cost and shortens the debt maturity structure, which provides complementary evidence for the relationship between banking industry competition and “maturity mismatch”. Based on the extensive research banks-enterprises relationship and the nature of property rights, it is found that for non-state-owned enterprises and non-bank-firm relationship, competition in the banking industry is more likely to intensify the enterprises’ “maturity mismatch”. This study not only enriches the research fields of banking competition and financial behavior of enterprises, but also provides important empirical evidence for broadening long-term financing channels, properly adopting conservative financial strategies and establishing fair credit market.
2020, Vol. 37 
