The Effects of Interruptions of Banking Relationships on Loan Terms

銀行往來關係中斷對貸款條件影響之研究

曾昭玲(Jauling Tseng) ； 陳昭如(Chao-Ju Chen)

《財務金融學刊》 23卷3期 (2015/09) Pp. 77-119

https://doi.org/10.6545/JFS.2015.23(3).3

摘要

企業與銀行之往來關係中斷將使實質關係與私有資訊之累積停滯，故本文旨在剖析此中斷之於貸款條件的影響。實證結果顯示銀行往來關係中斷年數越長，貸款利率、總額與期間顯著越低與越短，故銀行往來關係中斷對企業多元貸款條件具正向價格面（較低貸款利率），以及負向數量面（較少貸款總額）與期間面（較短貸款期間）之影響。

關鍵字

銀行往來關係 ； 縱橫資料 ； 聯立方程組 ； 樣本選擇模型

並列摘要

This study examines the influences of interruptions of banking relationships, which not only discontinue the accumulation of banking relationships and private information of companies but also affect the terms of loan contracts. The empirical results show that the longer the interruptions of banking relationships, the lower the interest rates and the loan sizes (volumes) as well as the shorter the loan durations (periods) when banking relationships are resumed. The interruptions of banking relationships have positive loan contract price effects (lower interest rates) accompanied by negative loan contract quantity effects (lower loan sizes) and term effects (shorter loan durations).

並列關鍵字

Banking relationship ； panel data ； simultaneous equation ； sample selection model

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