Family Control,Institutional Environment And Bank Loan

Since the beginning of the 21st century,China's economy has developed rapidly and the private economy,which is dominated by family enterprises,has become an important driving force for China's economic development.But the influence of family control on corporate economic behavior is still a controversial topic.The "family" of each family business is not homogeneous,and the family is heterogeneous.So this article research in family enterprise overall control of the influence of bank loans to the enterprise as the research basis,and to explore differences in family members of the family of corporate control for the effects of bank loans.At the same time,this paper will discuss how institutional environment can regulate family control and bank loans.The article is divided into seven parts,the first part is the introduction of the article,the purpose and significance of the research are elaborated,and the research methods and framework of this paper are explained.The second part is the literature review of the article,focusing on the research status of family enterprises at home and abroad,in order to lay the foundation for the economic research of the post.The third part describes some core concepts of family enterprises,including the core concepts and theoretical basis,including information asymmetry and the theory of principal-agent.The fourth part is the hypothesis and analysis of the article.The fifth part is the research design of the article,based on the review and theory of the previous articles,make relevant assumptions,and design a multivariate regression model.The sixth part is the empirical analysis,this article through the data of Chinese listed companies as research samples,and through the metrology of related software,has carried on the descriptive statistics,correlation analysis,regression analysis and the analysis of the endogenous inspection;Chapter 7 is a description of the research results and some limitations of the research.According to the result of empirical test summary of the article come to the conclusion that:first,in the family level,the whole family control and negatively correlated with bank loans,namely family control the smaller the bank loans,the more that a family control harmful to bank loans.Second,the members of the family of the individual level,members of the family control concentration and negatively correlated with bank loans,the members of the family control concentration is higher,the smaller the bank loans that a family members of the family of control in the enterprise control the concentration of an adverse effect on bank loans.Thirdly,the better the institutional environment,the less the concentration of control of the family members and the individual level of the family members will affect the bank loans.The external environment can effectively improve the influence of family control on bank loans.The internal environment can effectively improve the influence of family control on bank loans.On the basis of the research conclusions,this paper also points out the deficiencies in the research process.In this paper,based on a large number of domestic and foreign research achievements of literature,and associated parts of the article content for the system summary and deep thinking,strive for innovation from the following angles:first,the rich family control allocation effects on enterprise economic consequences.Secondly,the influence of different control structures on the economic consequences of enterprises is enriched.Third,it enriches the research content of family control on bank loans.In addition,because China's loan scale is relatively regulated,Banks can control credit risk through loan size.