政治风险会影响贷款定价吗

发布时间：2018-03-04 05:18

  本文选题：政治风险　切入点：银团贷款　出处：《管理评论》2017年09期 　论文类型：期刊论文

【摘要】："一带一路"背景下我国商业银行等金融机构"走出去",不仅可以解决制造业企业"走出去"对资金的迫切需求,同时可作为资本输出的战略载体。但是,复杂的国际政治形势是我国银行业的海外发展面临的重要挑战。基于1996年至2014年间我国金融机构牵头的银团贷款数据,本文探讨了政治风险与贷款利率之间的关系。研究结果表明:我国商业银行等金融机构牵头对发达国家和发展中国家企业的银团贷款中存在异质性政治风险溢价要求。我国金融机构对发展中国家企业贷款要求政治风险溢价,当借款人所在国家的政治风险增加一单位标准差时,银团贷款利率增加56.335个基点。但是,对发达国家企业的银团贷款中没有显著的政治风险溢价要求。进一步研究发现:为发展中国家企
[Abstract]:Under the background of "Belt and Road", China's commercial banks and other financial institutions "going out" can not only solve the urgent need for capital for manufacturing enterprises to "go out", but also serve as strategic carriers for the export of capital. The complex international political situation is an important challenge for the overseas development of China's banking industry. Based on the syndicated loan data from 1996 to 2014, This paper discusses the relationship between political risk and loan interest rate. The results show that there is heterogeneity political risk premium in syndicated loans from Chinese commercial banks and other financial institutions to enterprises in developed and developing countries. Our financial institutions require a political risk premium on loans to enterprises in developing countries, The syndicated lending rate increased by 56.335 basis points when the political risk in the borrower's country increased by a unit of standard deviation. There is no significant political risk premium requirement for syndicated loans to developed country firms.
【作者单位】： 对外经济贸易大学金融学院;中国人民银行广州分行;
【基金】：国家社会科学基金重大项目(16ZDA033) 对外经济贸易大学中央高校基本科研业务费专项资金资助(15QN03)
【分类号】：D0;F832.4
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本文编号：1564288