The Impact Of Financial Constraints On Enterprises Export Behaviors

Since the reform and opening up in 1978,export has brought great driving force for China's economic growth.However,the outbreak of the global financial crisis in 2008 made people realize that the state of financial development has a huge impact on exports.Since then,scholars have successively studied the effects of financing constraints on exports.Using data from the Chinese Industrial Enterprise Database and the China City Statistical Yearbook from 2003 to 2009,this paper empirically examines the relationship between financing constraints and enterprises export behaviors.And this paper mainly elaborates the relationship between financing constraints and enterprises export behavior from the following three parts.First of all,we examine the impact of financial constraints on whether to export.What's more,we examine the impact of financial constraints on export scale.Finally,we examine the impact of financial constraints on export duration.Using Stata 13.1,the paper elaborates the above three issues through multiple linear regression and survival analysis methods.The results show that the level of financing constraints has a significant negative impact on whether to export and export scale,and that financing constraints have a negative effect on export duration.At the time,the results differ a lot in the different enterprises ownership.First of all,from the perspective of whether to export,it is found that FDI enterprises' exports are less dependent on their own financing constraints and private enterprises are more dependent on financial constraints.What's more,from the perspective of export scale,it was found that the effect was not significant of financing constraints on export scale.Thirdly,from the perspective of export duration,it has been found that foreign companies have the longest duration of export,and t export duration of private enterprises is most affected by financing constraints.