政府干预、银行借款对过度投资的影响——以中国房地产上市公司为例

doi:10.13766/j.bhsk.1008-2204.2013.0246

北京航空航天大学学报（社会科学版） ›› 2014, Vol. 27 ›› Issue (2): 74-78.DOI: 10.13766/j.bhsk.1008-2204.2013.0246

政府干预、银行借款对过度投资的影响——以中国房地产上市公司为例

张彤, 王洁

天津大学管理与经济学部, 天津 300072

收稿日期:2013-05-27 出版日期:2014-03-25 发布日期:2014-03-24
作者简介:张彤（1968-），女，天津人，博士，副教授，研究方向为公司金融.

Effect of Government Intervention and Bank Loan on Overinvestment：A Case Study on Chinese Real Estate Quoted Companies

Zhang Tong, Wang Jie

College of Management and Economics, Tian Jin University, Tianjin 300072, China

Received:2013-05-27 Online:2014-03-25 Published:2014-03-24

摘要/Abstract

摘要：

以2006—2009年中国A股房地产上市公司数据为基础，分析政府干预及银行借款对房地产行业过度投资的影响。研究结果表明，地区的政府干预能降低房地产的过度投资程度，银行借款对房地产行业过度投资问题不但没有起到抑制作用，而且与过度投资正相关。进一步研究发现，地区的政府干预程度越小，银行借款对房地产上市公司过度投资的促进作用越大。

关键词: 政府干预, 银行借款, 过度投资, 房地产上市公司

Abstract:

This paper uses the data of real estate companies in A shares between 2006 and 2009 to analyze the effect of government intervention and bank loan on the real estate. The paper demonstrates that the government intervention can reduce the degree of overinvestment of the real estate. Bank loan not only fails to restrain the overinvestment but also has a positive correlation with the overinvestment. Further research finds that the less the government intervenes, the more effectively the bank loan promotes overinvestment.

Key words: government intervention, bank loan, overinvestment, real estate quoted company

中图分类号:

F832.48

张彤, 王洁. 政府干预、银行借款对过度投资的影响——以中国房地产上市公司为例[J]. 北京航空航天大学学报（社会科学版）, 2014, 27(2): 74-78.

Zhang Tong, Wang Jie. Effect of Government Intervention and Bank Loan on Overinvestment：A Case Study on Chinese Real Estate Quoted Companies[J]. JOURNAL OF BEIJING UNIVERSITY OF AERONAUTICS AND A, 2014, 27(2): 74-78.

政府干预、银行借款对过度投资的影响——以中国房地产上市公司为例

Effect of Government Intervention and Bank Loan on Overinvestment：A Case Study on Chinese Real Estate Quoted Companies

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