【摘 要】
：
本文以上市公司周边银行分支机构数量作为代理变量,从金融地理结构视角探究信贷资源可得性对企业创新活动的影响.研究发现:以邻近的银行网点数量为代表的信贷资源可得性越高
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本文以上市公司周边银行分支机构数量作为代理变量,从金融地理结构视角探究信贷资源可得性对企业创新活动的影响.研究发现:以邻近的银行网点数量为代表的信贷资源可得性越高反而抑制了企业的研发投入,并且这种抑制效应在国有企业和大型企业中更为明显;同时,这种抑制效应主要源自国有大型银行,而股份制银行和地方性中小银行的信贷投放更积极有为,能够促进企业的创新活动.机制检验发现:信贷资源会通过加剧企业的“过度负债”抑制研发投入;进一步,企业可获得的信贷资源越多却并未增加研发投入的原因在于进行了更多的“过度投资”,并将更多的信贷资源投入到房地产行业.本文的研究为我国近年来企业杠杆率高企、产能过剩却又创新不足等现象提供了新的证据,也为金融供给侧改革提供了政策参考.
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