The Impact Of Commercial Bank Competition On Corporate Exports

After the reform and opening in 1978,China has continued to liberalize the international market and has made great achievements in international trade,of which the export value has generally shown a trend of growth,from $97.45 billion in 1978 to $336.63 billion in 2021.However,the growth of export value is easily affected by the general international environment.The current recurrent epidemic,the rise of unilateralism in the United States,international conflicts and frictions may have an impact on China’s exports.Therefore,we should focus on improving the domestic situation to stabilize and promote China’s exports.Small and medium-sized companies are the main part of China’s economic development,providing strong support for the high-quality development of the international economy and the main force of China’s exports,while the lack of financing is an important reason limiting China’s exports.In China,the financial structure is bank-led,and bank loans are an important source of external financing for enterprises,so the impact of the development of the banking sector on business operations receives increasing attention.It is found that after 1978,China’s banking industry has formed a new system of fair competition and coordinated development of various types of banking financial institutions with the central bank as the core,and by the end of 2018,China’s banking financial institutions have reached 4,588,which reflects that the market structure of China’s banks is constantly changing and the market concentration is decreasing,which will accordingly affect the financing situation of enterprises and thus have an impact on Enterprises export scale and export intensity bring changes.At the same time,the Fifth Plenary Session of the 19 th CPC Central Committee clearly stated that promoting high-quality development is the theme of economic development,and the virtuous cycle between the banking industry and the real economy is an important initiative to promote high-quality economic development,so it is important to study the relationship between bank competition and enterprise exports from a financial perspective for the high-quality development of China’s economy.This paper firstly compiles the relevant literature on the influence of bank competition on enterprise exports and the analysis of the mechanism of bank competition affecting enterprise exports,then analyzes the influence of bank competition on enterprise export scale and export intensity from the theoretical level based on market power hypothesis,heterogeneous enterprise trade theory and information asymmetry theory,followed by an analysis of China’s bank market structure,the current situation of enterprise exports,bank competition and enterprise export Then,we analyze the influence mechanism of bank market structure,the current situation of enterprise export,bank competition and enterprise export,and put forward relevant hypotheses.Specifically,the data of A-share listed companies from 2011-2020 of Guotaian is used as the research sample to empirically analyze the data of banking competition in prefecture-level cities and the export data indicators of listed companies.Tests are conducted using fixed effects that control for both firm-level and time-year.The robustness test part is replacing the core explanatory variables,controlling other dimensions for regression,lagging the core explanatory variables by one period,and adding control variables,which are four methods.The influence mechanism study uses the three-step method of stepwise test regression coefficients and the bootstrap method,which verifies that bank competition affects the export behavior of enterprises by reducing financing constraints.Secondly,we analyze the differences in the impact of banking competition on firms’ exports based on the heterogeneous perspectives of firms’ geographical location,firm size,and firms’ capital intensity.Finally,results are drawn from the empirical findings and relevant policy recommendations are made.