Market environment, holding shares of banking industry and bank loans

XIE Weimin, SANG Ling

Systems Engineering - Theory & Practice ›› 2020, Vol. 40 ›› Issue (4) : 863-874.

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Systems Engineering - Theory & Practice ›› 2020, Vol. 40 ›› Issue (4) : 863-874. DOI: 10.12011/1000-6788-2020-0016-12

Market environment, holding shares of banking industry and bank loans

  • XIE Weimin1,2, SANG Ling1
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Abstract

Using the samples from Chinese non-financial A-share listed companies of 2007-2016, this paper conducts the theoretical analysis and empirical test of the impact of the regional market environment on firms' holding shares of banking industry. Further, this paper investigates the effect of the holding shares of banking industry on bank loans. The empirical results show that regional market environment affects the willingness and behavior of firms' holding shares of banking industry, and firms in the regions with poor regional market environment are more likely to hold shares of banks. Compared with firms that do not hold shares of banking industry, firms with holding shares of banking industry can get more bank loans, and the loan costs are lower. Further, the impact of firms' holding shares of banking industry on bank loans is more significant for firms located in regions with the poor market environment. The research conclusions of this paper reveal the behavioral motivations and economic consequences of firms building equity connections with banks under the institutional background of the imperfect market environment.

Key words

market environment / holding shares of banking industry / bank-firm relationship / bank loans

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XIE Weimin , SANG Ling. Market environment, holding shares of banking industry and bank loans. Systems Engineering - Theory & Practice, 2020, 40(4): 863-874 https://doi.org/10.12011/1000-6788-2020-0016-12

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Funding

Foundation for Innovative Scholar of Liaoning Province (WR2019009); Scientific Research Foundation of Liaoning Provincial Department of Education (LN2019Q20)
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