题目：What Cause Chinese Listed Firms to Switch Their Banks? Evidence based on Survival Analysis
报告人：黄嘉仪（英）卡迪夫大学商学院
时间：2019年3月19日上午9:00 -11:00
地点：博萃楼阳光房
论文：学院内网
【内容摘要】
Using the matched firm-level data of relationship between China’s listed firms and their lending banks during the period of 1996-2016, this study examines the main driver of firm’s switching behaviour from a dynamic perspective. The Survival analysis and Dirichlet model used in this study not only analyse the determinants of switching behaviour, but also provide information on where firms are switching to. After controlling for firm-specific financial factors, ownership characteristics, internal management changes, bank factors, and external environment changes, we find that in an environment of growing commercialisation of firm-bank relationships, the firm-bank relationship between state-owned enterprises (SOEs) and state-owned banks (SOBs) in China remains super-stable. The establishment and maintenance of close and stable firm-bank relationship is significantly influenced by “political connection”, these SOE-SOB relationship has been further strengthened after the financial crisis, and most of these switching are flowing to the SOBs.In addition, a change in the CEO of a firm even increases the probability of the loan-provider being changed.
【报告人简介】
黄嘉仪，卡迪夫大学（Cardiff University）商学院博士研究生，研究兴趣包括公司金融、银企关系、企业转换行为等。
