本研究使用國內某家上市商業銀行之雲嘉地區內所屬分行中，2009年至2016年間其內部中小企業授信放款契約資料為研究對象，主要探討中小企業主的產業投資連結對貸款違約風險的影響，其中也關注於銀行往來關係（以往來年限來衡量）和是否為主力銀行對中小企業破產機率是否產生差異的影響性。本研究旨在探討中小企業是否因持續性的往來關係（年限及主力銀行）而獲取較佳的授信條件，並使用「縱橫資料一般化最小平方法」(Panel GLS)進行實證估計。實證結果指出當中小企業主的產業投資連結愈分散會顯著提高貸款違約風險；相反地，產業投資連結愈集中會顯著降低貸款違約風險。 This paper uses the regional data on credit lending contracts of SMEs from 2009 to 2016 among the branches of a listed commercial bank. We not only focus on the impact of industrial investment links of SME owners on loan default risk, but also looks at the relationship between bank contacts (measured by the number of years past) and tests whether it is the primary bank that has any impact on the probability of bankruptcy of SMEs. The purpose of this paper is to explore whether SMEs can obtain better credit conditions due to their ongoing contacts (number of contacts and number of banks) by using the Panel GLS method to conduct empirical estimates. The empirical results indicate that the more diversified industrial investment links SME owners can significantly increase the risk of loan defaults; conversely, the more concentrated industrial investment links will significantly reduce the loan default risk.
