1. 融资约束对中国纸制品出口产品质量影响研究.
- Author
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袁璐瑶, 万璐, and 毛玉铃
- Abstract
Background-- With thc vigorous devctopmcnt of China's financiat indiistry, it is of great significance to stiidy thc impact of financing constraints on the qiiatitv of paper pindncts exported. ⑵ Methods-- Based on thc data of export qiiantity and cxport price in thc CEP11 BAC1, with post-rcverse mcthod, thc qiiatitv of China's paper prodncts exported in 2002-2016 is measured and thc characteristics of qiiatitv change arc anatyzed. In addition, a regression modet is cstattishcd to stiidv the impact of financing constraints on the qiiatitv of China's paper products exported. (8)Results-- It can be seen from meastirement rcsutts that the qiiatitv of China's paper prodncts exported has dectined stighttv, from 0. 581 in 2002 to 0. 573 in 2016, due to the stmcttirat change of China's paper export destinations. Fmm 2002 to 2010,the qiiatitv of paper prodncts exported shows a downward trend. In 2010 -2016, with the graduat recovery of the wortd economy, the qiiatitv of paper prodncts exported has graduatty increased ,biit it stitt faits to reach a high tevet. Prom thc regression rcsutts on thc impact of financing constraints on thc qiiatitv of paper prodncts exported, it's found that both internat and cxtcrnat financing constraints have an impact on the qiiatitv of paper prodncts exported. From the pcrspcctivc of externat financing, the impact of bank toan index variabtes on thc qiiatitv of exported paper prodncts is positivc, and thc regression cocfricicnt is 0. 194. The impact of commerciat credit constraint index variabtes on thc qiiatitv of paper prodncts exported is not significant, which shows that for cnteiprises, the source of bank credit funds is more stabtc, the targer thc scate of funds avaitabte,thc tonger the period of funds avaitabte, and a stabtc source of funds is more conducive to promo ting tcchnotogv research and devctopmcnt and improving thc qiiatitv of enterprises. From thc pcrspcctivc of in- tcrnat financing, thc impact of cash ftow index on the qiiatitv of paper pindiicts exported is positivc, with a regression cocfricicnt is 0. 132. The effect of thc paid in capitat indicator variabtes on the qnatity of China's paper prodncts exported is not significant. In addition, China's per capita income, per capita income of cxport destinations ,tabor costs, and R&D investmcnt att have significanttv promo ted the qiiatitv of China's exported paper pmdncts. The regression cocfficicnts arc 0. 314, 0. 149, 0. 387 and 0. 051, rcspcctivety. Finatty, foreign direct investmcnt has no significant impact on thc qiiatitv of Chinese paper prodncts exported. (4)Conclusions and Discussions-- In order to improve thc qiiatitv of cxport paper prodncts,thc government shoutd speed up the cons tine tion of the banking system and transform the financiat system dominated by statc-owned banks, Additionattv, we shoutd encourage the devctopmcnt of smatt and medium-sized banks, devetop the securities market and buitd a mutti-tevet financiat market system, so as to broaden thc financing channets for paper prodncts enterprises and creatc a good financiat envimnment. In addition, financiat ins ti tti tions shoutd continnc to innovate financiat prodncts, combining with the business modet of paper prodncts indnstrv and thc characteristics of different business tinks, and imptcment diffcrentiatcd financing methods. Besides, paper prodncts enterprises shoutd buitd an information sharing ptatform to improve the qiiatitv of information disctosure ,rcdtice financing costs and improve financing efficiency. What/s more, paper prodncts enterprises shoutd improve their credit tevet, strengthen thc management of tcadci's. Finatly, enterprises should increase technologv investmcnt, pay attention to tcchnologv research and devctopmcnt, and improve pindiict tcchnologv level. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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