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本文基于社会嵌入性理论的研究视角,以民营上市公司为研究样本,考察了社会信任资本的银行贷款效应并探讨了社会信任不足的民营企业面临银行贷款困境下的替代性融资选择。本研究突破了以往融资理论“社会零嵌入”的不足,关注非经济制度和非正式制度对企业融资行为的影响,拓展了以往融资理论的研究视野,研究结论表明,当前我国转轨经济背景下社会资本等非正式制度与机制对企业非常重要。
Based on the research perspective of social embeddedness and private listed companies as the research sample, this paper examines the bank loan effect of social trust capital and explores alternative financing options for private-owned enterprises that lack social trust in the face of bank loans. This study breaks through the shortcomings of previous financing theory “zero embeddedness in society ”, focuses on the impact of non-economic system and informal system on corporate financing behavior and expands the research field of previous financing theory. The conclusion shows that at present, China’s transitional economy background Informal institutions and mechanisms such as social capital are very important to the enterprise.