Research On Enterprise Export

Since China joined the WTO at the beginning of this century,more and more products have gone to the international market,and now it has developed into the world’s largest commodity trading country.Different from the trend of increasing scale year by year,the quality of China’s overall export products has not been continuously improved.With the economic development entering a new normal,the comparative advantages of domestic land resources and labor costs are no longer prominent.Developing high-quality exports is the only way to enhance the international competitiveness of China products.As we all know,continuous expansion of export scale and improvement of product quality require continuous investment of funds,and whether sufficient financial support can be obtained becomes an important decisive factor for enterprises to carry out high-quality exports.Digital finance,as a new financial service under the background of digital economy,relies on the data search and analysis system in the era of big data to quickly complete the credit rating process of enterprises and timely allocate funds to enterprises that need financing.The credit support brought by digital finance helps export enterprises to have sufficient cash flow,and promotes enterprises’ export from two aspects: increasing export probability and improving export performance.To sum up,it is of great significance to study the influence of digital finance development on the export behavior of micro-enterprises.This paper makes a theoretical and factual analysis on how the application of digital finance affects the export of enterprises,puts forward hypotheses,and uses empirical and case research methods to test the hypotheses.The empirical part takes the listed manufacturing enterprises in China as the research object,selects the historical operating data from 2011 to 2020,first analyzes the influence of digital finance on enterprises’ export decision-making by using the fixed effect model,and then studies whether digital finance has "quantity" effect and "quality" effect on enterprises’ export performance.In the expansion analysis,this paper provides a realistic path for digital finance to improve the export performance of heterogeneous enterprises through mechanism test and heterogeneity analysis of sample data.Part of the case takes G enterprise,the world’s leading machinery and equipment manufacturer,as the research object.By analyzing the improvement of G enterprise’s financing environment under the background of digital finance,it realizes the improvement of export performance and the expansion of international influence,and further demonstrates the effect of digital finance on enterprise’s export behavior.According to the foregoing analysis,this paper draws the following conclusions:(1)The application of digital finance can significantly improve the export probability of enterprises,and improve the export performance of enterprises from the aspects of export quantity and quality.(2)From the mechanism test,digital finance can significantly improve the quantity and quality of enterprises’ exports by easing the financing constraints of enterprises and improving the innovation level of enterprises.(3)From the perspective of heterogeneity analysis,digital finance has heterogeneity for enterprises with different ownership and different regions.Finally,this paper puts forward policy suggestions from two angles of enterprise and digital financial development.Enterprises should use digital finance as a new financial service to improve the quality of export products.Private enterprises generally face stronger financing constraints.After obtaining financing support,they should first increase the "quantity" of existing products to meet the market demand and then focus on "quality" upgrading.The long-term planning of digital finance should be adjusted according to historical experience,and the digital finance should be endowed with sustained growth power by appropriately inclining the central and western regions,strengthening the depth of users’ use and improving the corresponding supporting facilities.