School of Finance, Institute of Chinese Financial Studies, Southwestern University of Finance and Economics, Chengdu, Sichuan, China.
Chengdu High-tech Industrial Development Zone Sub-branch, Bank of China, Chengdu, Sichuan, China.
PLoS One. 2022 Oct 27;17(10):e0276877. doi: 10.1371/journal.pone.0276877. eCollection 2022.
We point out that the largest private shareholders can use their information advantage of the industry to influence banks' industry lending behavior. Using a sample of Chinese city commercial banks, we find that increasing of ownership stake of the largest private shareholders leads banks to lend more to their industries. Interestingly, the largest state-owned shareholders do not have this effect. More importantly, we confirmed the channel of the information advantage by analyzing the bank's industry NPL ratio and the listed company's maximum loan amount in the bank. Of course, the effect of the largest private shareholders is achieved by intervening in board decisions. In addition, the ownership structure can influence this effect.
我们指出，最大的私人股东可以利用其在行业中的信息优势来影响银行的行业贷款行为。使用中国城市商业银行的样本，我们发现最大私人股东的持股比例增加会导致银行向其所在行业发放更多贷款。有趣的是，最大的国有股东没有这种影响。更重要的是，我们通过分析银行的行业不良贷款率和上市公司在银行的最大贷款额，证实了信息优势的渠道。当然，最大的私人股东的这种效应是通过干预董事会决策来实现的。此外，股权结构也会影响这种效应。
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