Empirical Analysis of the Effect of Listed Companies' Collateral Failure Upon Commercial Bank's Asset Quality——A Case of Listed Companies in Xinjiang Production And Construction Corps

Listed companies' guarantee theoretically helps banks control and averts risks,but due to information asymmetry,opportunism of listed companies might result in expropriation of money,unlawful operation,amplification of guarantee sum and extension of guarantee period in practice,which may cause guarantee failure so as to deteriorate bank's asset quality.Through investigating guarantee problems in XPCC,the study finds that this deduction could be validated by the empirical study based on XPCC.It means that due to a lot of asymmetric information in credit guarantee contract,the listed companies' guarantee failure always occurs,so guarantee institutions should be innovated in time so as to protect competition orders in financial market.