The Effect Of Legal Environment On Firm Export

Over the past thirty years of Reform and Opening up, China create export growth miracle by relying on cheap labor and abundant natural resources. At the same time, rising labor costs and excessive consumption of natural resources gradually has become the key to the sustainable development of China’s export trade. From the legal level to seek a new breakthrough for the development of China’s export trade has become more and more important. On the other hand, the development of China’s financial industry lags behind economic development, this has resulted in more and more enterprises are facing serious financing constraints. Thus, exploring the impact of regional legal environment for export enterprises in the context of the financial market imperfections has extremely important practical significance.Based on systematically reviewes the literature about legal factors affect the business, law and finance theory and financial impact on the development of international trade, this paper systematically generalizes the impact of regional legal environment for export enterprises,and from the perspective of financial constraints to examine these issues in-depth discussions. After that, we use Heckman sample selection model to analyze related issues, the results show that:(1) Area legal environment has a positive impact on export participation and export scale, this effect is more pronounced in high dependence on external financing industry.(2)That effect is different in different forms of ownership, size, region and industry. Thus, government should take measures to improve the legal system construction of China and provide a good external environment for enterprise activities. In addition, giving special attention and preferential policies to help the Midwest enterprises, medium-sized and small enterprises, private enterprise and higher dependence on external financing industry can reasonably guide the behavior of enterprises’ export, help enterprises expand the export scale and optimize export structure.