吃喝费用、融资约束与企业出口行为——世行中国企业调查数据的证据

发布时间：2018-01-06 09:38

本文关键词：吃喝费用、融资约束与企业出口行为——世行中国企业调查数据的证据　出处：《金融研究》2017年05期 　论文类型：期刊论文

【摘要】：腐败的蔓延会破坏市场的公平竞争环境,阻碍经济的持续增长。本文运用2005年世界银行对中国企业的调查数据,考察吃喝费用和企业出口之间的关系。研究发现,企业的吃喝费用和企业融资约束缓解(体现在企业出口决策和出口深度方面)在一定程度上正相关,然而,这种关系主要体现于民营企业,对国有企业的影响并不明显。在运用工具变量和倾向得分匹配法弱化吃喝费用的内生性和进行一系列稳健性检验后,这一结论依然成立。我们还发现,在银行竞争较弱和市场化程度较低的地区,上述关系更加明显。因此,完善金融体制改革,让市场在资源配置中发挥决定性作用是现阶段的关键。
[Abstract]:The spread of corruption will destroy the fair competition environment of the market and hinder the sustained economic growth. This paper uses the World Bank survey of Chinese enterprises in 2005. The relationship between the cost of eating and drinking and the export of the enterprise. The study found that the cost of eating and drinking and the financial constraints of the enterprise (reflected in the enterprise export decision and export depth) are positively correlated to some extent, however. This relationship is mainly reflected in private enterprises, the impact on state-owned enterprises is not obvious. After the use of instrumental variables and tendency to score matching method to weaken the endogeneity of eating and drinking expenses and a series of robustness tests. This conclusion is still true. We also find that the above relationship is more obvious in areas where banks are less competitive and less market-oriented. Therefore, the reform of the financial system should be improved. Let the market play a decisive role in the allocation of resources is the key at this stage.
【作者单位】：中南财经政法大学统数学院;南开大学经济学院;
【基金】：国家自然科学基金(71503275;71372212) 中国博士后特别基金项目(2016T90746)的资助
【分类号】：F275;F752.62;F832.4
【正文快照】： 1《商务部:我国外贸结构优化,民营企业出口占比提高》,人民网-财经频道,2014年01月16日。一、引言以国有银行为主体的金融体制存在“所有制歧视”,一定程度上导致民营企业的融资困境(Claessens and Tzioumis,2006)。融资困境削弱了企业应对出口沉没成本和可变成本的能力,限制

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