중소기업 관계금융의 현황과 성과

Abstract

본 논문은 은행의 중소기업에 대한 실제 건별 대출자료를 이용하여 우리나라 중소기업의 관계금융 현황과 성과를 분석하였다. 분석 결과, 우리나라의 중소기업 관계금융의 현황을 전통적인 관계금융 관련변수로 판단할 때 관계금융이 강할수록 대출금리, 대출 연체 등 중소기업 대출의 조건과 결과에 대체로 긍정적 영향이 존재하였으나, 금융감독원에서 시행한「관계형금융」제도의 효과를 통계적으로 확인하기 어려웠다. 이러한 결과들은 우리나라 중소기업에 대한 관계금융이 아직은 충분히 활성화되지 못하고 있으며 앞으로 더욱 활성화될 필요가 있음을 시사한다.

In this paper, we empirically examines the effects of relationship banking on bank lending to small and medium-sized enterprises by using actual transaction-level bank lending data in Korea. We find that a stronger relationship banking leads to positive results by reducing lending rate and overdue loans. However, those positive effects are not sufficiently significant. To foster relationship banking in Korea, the Korean Financial Supervisory Service initiated a program called "the Relationship Banking Agreement"(RBA) between banks and small and medium-sized enterprises. Our bank loan data contain the information about the RBA. We empirically assess whether the RBA could yield positive effects on bank lending to small and medium-sized enterprises or not. We cannot statistically confirm the effects of the RBA on bank lending to small and medium-sized enterprises. Moreover, the RBA has been implemented in a way that is inconsistent with the original purpose of the policy. This result suggests that the relationship banking to small and medium-sized enterprises has not been full-fledged yet but needs to be developed further in Korea.