| Based on the purchase of financial products by A-share listed enterprises,this paper investigates the impact of bank enterprise relationship on the purchase of financial products.Firstly,starting from the research background and significance,this paper expounds the domestic institutional environment,the current relationship between banks and enterprises,the background of the increasing scale of purchasing financial products,and the theoretical and practical significance of this research to the healthy development of banks and enterprises and the improvement of the domestic market mechanism environment.Secondly,it briefly describes the main research contents and methods of this paper,and points out the innovation of this research.Then,it expounds the research of domestic and foreign scholars from the perspective of enterprise loans and bank deposits,and points out the research status of domestic and foreign scholars on the relationship between banks and enterprises and the purchase of financial products.Then it expounds the current development status of China’ s banks,showing a stable and rapid development.There are some deficiencies in the development of enterprises,such as management mode,as well as the vigorous development of China’ s current financial market,and the financial wave is rising day by day.Then it makes a theoretical analysis on the relationship between banks and enterprises and the internal relationship between the behavior of purchasing financial products,and puts forward some reasonable assumptions and constructs a theoretical model based on this.Then,taking the amount of financial products purchased by listed companies,the entrusted period of purchasing financial products and the financial return rate as the investigation indicators of the behavior of enterprises purchasing financial products,this paper collects and sorts out the relevant data of bank financial products purchased by A-share listed companies from 2014 to 2019,and establishes a fixed effect model by using stat software to make an empirical analysis of these data.Finally,based on the empirical results,draw the final conclusion and put forward reasonable suggestions.It is found that the bank enterprise relationship has a significant positive impact on the amount of financial products purchased by listed companies,and a significant negative impact on the financial period and financial return of financial products purchased by listed companies.This shows that the close relationship between banks and enterprises makes enterprises willing to spend more money to buy the financial products of related banks.However,due to the needs of capital turnover of listed enterprises and the concern of related banks for enterprises,the financial products generally recommended by banks to enterprises have a shorter term,which makes the income relatively lower.In a word,the results show that the bank enterprise relationship has a significant impact on the behavior of listed companies to buy financial products.In addition,it also examines the impact of private enterprises and state-owned enterprises on the financial return rate of relational banks,as well as the internal relationship between financial period and financial return rate.The empirical results show that state-owned enterprises usually have a higher return rate than private enterprises in purchasing financial products of relational banks;It also comes to the conclusion that there is a certain positive correlation between financial return and financial period.The reason may be that the financial period for listed companies to buy financial products from related banks is shorter than that of non related banks,which limits the income of listed companies to buy financial products.The empirical results also show that the impact of the market in different regions of the marketization index is also quite different.Based on these research results,a series of feasible suggestions are put forward for the more benign and healthy development of China’s banks and enterprises. |
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