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Banking Competition and Excessive Commercial Credit Supply
BAI Jun1, QIU Shanyun2, LIU Yuanyuan3
1. School of Economics and Management/Research Center of Governance and Management Innovation, Shihezi University, Shihezi 832000, China; 2. School of Economics, Shandong University,Jinan 250100, China; 3. School of Business, SUN YAT-SEN University, Guangzhou 510275,China
Abstract Based on the background of the deregulation policy of China’s banking market access in different places,using the data of listed companies from 2003 to 2017, this paper empirically examines the impact of banking competition on the supply of excess commercial credit of enterprises and its action path. The results show that, on the whole, the competition of banking industry has a positive effect on the excess commercial credit of enterprises. The channel test shows that competition in banking industry significantly alleviates the financing constraint level of enterprises, improves the supply capacity of enterprises, and promotes the supply of excess commercial credit for enterprises. Further investigation of the regulatory effect of supply intention shows that the positive effect of banking competition on the supply of excess commercial credit is more obvious in small and medium-sized private enterprises and enterprises with low market position. In addition, from the perspective of external market environment, the fiercer the competition in the industry and the higher the marketization level of the enterprise, the more obvious the positive effect of banking competition on the supply of excess commercial credit. This paper provides more direct empirical evidence for what factors affect the excess commercial credit supply capacity of enterprises, and has important significance for how financial liberalization reform affects the strategic decision-making of micro enterprises.
2020, Vol. 37 
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