| In the modern economic system with finance as the core,financial instruments play an increasingly prominent role in agricultural development.As an important industry in China’s national economy,pig breeding is gradually developing in scale and intensification,and its dependence on capital is gradually increasing.However,due to the high financing frequency and short waiting period of pig farmers’ credit demand,as well as the existing problems of information asymmetry and agricultural credit contract execution obstacles in the current rural formal financial market,pig farmers are facing serious credit constraints and generally have low credit transaction costs.Industry chain organization is an important carrier to realize industrialization development.With the development of China’s pig industry,the organization mode of industry chain of pig breeding has been gradually improved,which plays an important role in improving the market dominant position and coordination ability of pig farmers.It is of great significance to explore the impact of industrial chain organization on the credit availability of pig farmers from the perspective of transaction cost,to alleviate the credit constraints of pig farmers,improve the credit availability,and ensure the healthy and sustainable development of the pig industry.This article is based on the three provinces of Hebei,Shannxi,Henan,826 pig farmers field survey data,according to the information asymmetry theory and contract theory,using Tobit model,factors affecting the farmers credit availability of empirical test,a research on the industrial organization pig farmers the impact of credit availability,and starting from the perspective of transaction cost,Explore the effect mechanism of industrial chain organization on credit availability of pig farmers.The results show that :(1)at present,the organization mode of pig breeding industry chain in China is mainly cooperative industry chain organization and leading enterprise organization.The application of unsuitable industrial chain organization mode and lack of flexibility to the industrial chain organization mode are the important reasons hindering the sustainable and healthy development of China’s pig industrialization.(2)China’s pig farming is facing serious credit constraints.Farmers have low credit availability.Pig farmers are in a disadvantageous position in the credit market,such as short financing waiting period,small financing demand,sensitivity to interest rate,high risk of pig breeding operation,lack of collateral and information asymmetry.(3)The high transaction cost caused by information asymmetry and imperfect contract mechanism is an important factor affecting the credit availability of pig farmers;(4)Pig farmers joining the industrial chain organization can improve the credit availability of pig farmers by reducing transaction costs caused by information asymmetry and imperfect contract mechanism.Pig farmers joining the industrial chain organization mode of leading enterprises can reduce the transaction cost more than joining the cooperative industrial chain organization.Enhance credit availability.Based on the above conclusions,this paper proposes to strengthen the organization support of pig breeding industry chain.Strengthen the credit product innovation ability of financial institutions;Raise farmers’ credit level;In order to optimize the financing environment of pig farmers and ensure their healthy and sustainable development,it is suggested to strengthen the innovation of regulatory institutions’ management mode. |
