普惠金融对民营企业贷款的影响：来自中国民营企业调查的证据

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-05-08 DOI:10.1016/j.iref.2025.104161

Gang Yang , Gongming Yuan , Junhao Kou , Shyhyan Jiau

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引用次数: 0

摘要

本研究探讨普惠金融与民营企业贷款融资的关系。利用中国民营企业调查（CPES）数据库作为研究样本，我们发现普惠金融对民营企业贷款融资具有正向影响，这一发现经过一系列稳健性检验后成立。调节效应表明，发展战略和政府干预负向调节了这一关系。异质性检验表明，普惠金融的正向效应在民主党高管领导的企业、有限责任公司、股份公司、非上市公司以及位于“下游”省份和西部地区的企业中更为明显。总体而言，本研究揭示了普惠金融对民营企业贷款融资的作用机制，为完善普惠金融体系建设提供了切实可行的建议。

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Impact of inclusive finance on private enterprise Lending: Evidence from China private enterprise survey

This study examines the relationship between financial inclusion and private enterprise loan financing. Using the China Private Enterprise Survey (CPES) database as the study sample, we find that financial inclusion has a positive effect on private enterprise loan financing, a finding that holds after a series of robustness tests. Moderating effects suggest that development strategies and government intervention negatively moderate this relationship. Heterogeneity tests show that the positive effect of financial inclusion is more pronounced in firms led by democratic party executives, limited liability companies, joint-stock companies, unlisted firms, and firms located in “downstream” provinces and western regions. Overall, this study reveals the mechanism of inclusive finance on loan financing for private enterprises, and provides practical suggestions for improving the construction of inclusive financial system.

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来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.