| The Covid-19 outbreak has had a huge impact on the global auto industry.In the post-epidemic era,the development of SCF in the automobile manufacturing industry has also been endowed with new challenges of easing financing constraints and service industry collaboration,and ushered in new opportunities of industrial integration,technology integration and rapid development.This article take "the analysis of SCF in car-making ease can play the role of SMEs financing constraint effect" as the research target,the selected topic to from economic theory,analyze the present situation of SCF development and corporate finance interpretation mechanism,carry out the empirical test,the final research conclusion and provide development Suggestions.First of all,it defines the concepts related to SMEs,SCF,block chain,etc.,and analyzes the theoretical basis of the topic selection respectively from relevant theories such as information asymmetry on the basis of summarizing relevant literatures.Secondly,the current situation of SCF and enterprise financing in automobile manufacturing industry is analyzed.Then,after the qualitative analysis of the SME financing constraints and the impact of SCF on the mechanism of financing constraints,and normative analysis of the block chain releasing the potential of SCF,the formation of a logical framework from induction to deduction provides a solid foundation for empirical research in this paper.Then,in the empirical study,the paper puts forward the hypothesis,selects the sample data,constructs the model and the variable,examines whether the automobile manufacturing enterprise has the financing constraint;Establish the development index of SCF and investigate the mediation role of SCF in alleviating the financing constraints of automobile manufacturing enterprises.Based on the credit penetration characteristics of core enterprises,a sample group of enterprises is established to compare the regulating effect of SCF on the financing constraints of enterprises at different levels,and reflect the effect of easing the financing constraints of end-end SMEs.Finally,on the basis of summarizing the research conclusions,it puts forward some suggestions to promote the development of SCF in China’s automobile manufacturing industry.Through empirical analysis,the following conclusions are drawn: First,financing constraints are widespread in automobile manufacturing enterprises;Second,SCF has an obvious effect on alleviating financing constraints of financing enterprises in automobile manufacturing industry.Third,SCF has a more obvious mitigating effect on enterprises that enjoy core enterprise credit groups than those that do not.Block chain technology popularization and application in the field of SCF have just started,the vast majority of SMEs in China has not been able to enjoy the core enterprise of SCF financing convenience brought about by the credit,combined with the industrial chain,the supply chain under the outbreak "obstruction" risk,SCF still has huge development potential,chain block technology can better release of this potential.In the post-epidemic era,China should actively promote the development of SCF,and create a good development environment for its integration with industry and technology,so as to help alleviate financing difficulties of SMEs,ensure the smooth operation of the industrial chain and supply chain,and create a new pattern of development. |
