Financial Development Factors Of The Listed Company To The Influence Of The Bank Credit Financing

Since the reform and opening up, our financial system is a series of change, in the process, China’s total credit funds on the rapid growth, because of our country interval geographical location, resources endowment is different in the regions lead to different financial development level, so enterprise in the external financing environment has undergone great changes. Based on this background, this paper analyzes the influence of the financial development factors to China’s listed company bank credit financing decision; and according to the selecLTe sample company property is divided into different state-owned listed companies and non-state-owned listed company, and further analyzed the financial development factors of China’s listed firms bank credit financing impact of decisions under the different nature of property right.In this paper, the results show that:(1) the higher financial development level, the listed company’s bank loans the smaller scale, loan term more short;(2) as the financial development level enhancement, non-state-owned listed company compared the state-owned listed companies of negative correlation is more closely abate between the loan scale,loan term and financial development level;(3) with the financial development level of the increase year by year, bank credit scale of the listed company and financial development level of a negative correlation weakens;(4) financial development help smaller company to get a bank loan and long-term loans;(5) financial development help having less mortgage assets of the company to get a bank loan;(6) financial development help growth lower company to get a long-term loan;(7) financial development help profitability lower company to get a short-term loan. These research conclusion provide experience evidence for the influence of financial development to our country enterprise bank credit financing decision from the external macro financial environment angle, and provide reference for the local government’s construction and development the local financial market.