区块链信息披露、国家产业政策与银行信贷获取

财经论丛 ›› 2025, Vol. 41 ›› Issue (6): 65-75.

区块链信息披露、国家产业政策与银行信贷获取

张玉珂^1,2, 张伟俊³

1.广东财经大学数字经济学院,广东广州 510320;
2.广东财经大学中观经济学研究中心,广东广州 510320;
3.兰州财经大学金融学院,甘肃兰州 730101

收稿日期:2023-08-16 出版日期:2025-06-10 发布日期:2025-06-10
作者简介:张玉珂(1992—),女,河南漯河人,广东财经大学数字经济学院讲师,广东财经大学中观经济学研究中心研究人员,广东省哲学社会科学重点实验室(广东财经大学)研究人员,博士。
基金资助:
国家社会科学基金项目(17BJY123);广东省哲学社会科学“十四五”规划项目(GD23CYJ20)

Blockchain Information Disclosure, National Industrial Policy and Bank Credit Access

ZHANG Yuke^1,2, ZHANG Weijun³

1. School of Digital Economics, Guangdong University of Finance and Economics, Guangzhou 510320, China;
2. Mesoeconomics Research Center, Guangdong University of Finance and Economics, Guangzhou 510320, China;
3. School of Finance, Lanzhou University of Finance and Economics, Lanzhou 730101, China

Received:2023-08-16 Online:2025-06-10 Published:2025-06-10

摘要/Abstract

摘要： 基于2012—2021年中国A股上市企业披露的区块链文本信息,从国家产业政策的角度研究区块链信息披露对银行信贷资源配置的影响。研究发现,区块链得到国家产业政策支持后,区块链信息披露显著增加企业的银行借款,尤其是短期借款,并从外部监管和银行决策效率两个视角证实企业存在通过信息披露迎合银行授信标准的行为。机制分析发现,区块链得到国家产业政策支持后,区块链信息披露加剧信息不对称从而影响银行信贷资源配置。进一步分析发现,这种信贷资源获取效应主要集中在技术熟练程度低、融资约束强以及所在地区金融发展水平低的企业。研究为推动信贷资源流向科技创新领域,加快培育新质生产力提供重要启示。

关键词: 区块链信息披露, 国家产业政策, 银行信贷, 非财务信息, 信息不对称

Abstract: Against the background of the national vigorously promoting the development of blockchain, this paper investigates the impact of blockchain information disclosure on bank credit allocation from the perspective of national industrial policy based on the blockchain textual information disclosed by China's A-share listed companies from 2012 to 2021. It is found that blockchain information disclosure significantly increases bank borrowing, especially short-term borrowing, when blockchain is supported by national industrial policy. The research further confirms the act of the company's catering to banks' credit criteria through information disclosure from two perspectives: external regulation and banks' decision-making efficiency. Mechanism analysis finds that blockchain information disclosure exacerbates information asymmetry, thereby influencing bank credit allocation after blockchain is supported by national industrial policies. Further analysis finds that this credit resource acquisition effect is mainly concentrated in companies with low technological proficiency, companies with strong financing constraints, and companies with low levels of financial development in their regions. The research provides important insights for promoting the flow of credit resources to the field of science and technology innovation and accelerating the cultivation of new quality productivity.

Key words: Blockchain Information Disclosure, National Industrial Policy, Bank Credit, Non-Financial Information, Information Asymmetry

中图分类号:

F832.51

张玉珂, 张伟俊. 区块链信息披露、国家产业政策与银行信贷获取[J]. 财经论丛, 2025, 41(6): 65-75.

ZHANG Yuke, ZHANG Weijun. Blockchain Information Disclosure, National Industrial Policy and Bank Credit Access[J]. Collected Essays on Finance and Economics, 2025, 41(6): 65-75.

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