关键词: 地区金融机构, 僵尸企业, 城市商业银行

Abstract: As an important starting point for production capacity reduction, effective disposal of zombie firms has become a major measure for structural reform on the supply side. However, the existing research on zombie firms mainly focuses on the identification, causes and effects of zombie firms, with few studies on the connection between banks and zombie firms. Therefore, from the perspective of bank-enterprise relationship, on the basis of collecting and sorting the establishment time of city commercial banks, this paper empirically tests the relationship between the establishment of city commercial banks and zombie firms, using the Chinese Industrial Enterprise Database and differences-in-differences method. The results of the study show that the establishment of city commercial banks significantly inhibits the formation of zombie firms and reduces the proportion of regional zombie firms. After replacing the data of China’s listed companies and considering the parallel trend test, the corresponding conclusion is still robust. Further analysis reveals that city commercial banks can intensify competition in the banking industry and increase corporate capital productivity, thereby inhibiting zombie firms. The conclusion above provides corresponding policy suggestions for the government to deal with zombie firms and cut excess capacity.

Key words: Regional Financial Institution, Zombie Firm, City Commercial Bank