Research On The Financing Environment And The Development Of Transportation Industry Under The Strategy Of Belt And Strip

The “Belt and Road” strategy has been a hot topic in the academic and financial circles at home and abroad in recent years and has been a concern of many scholars.Since the “One Belt and One Road” strategy was proposed in 2013,the state has vigorously promoted the construction of transportation infrastructure in order to promote the economic development along the strategic route and laid the foundation for the development of the transportation industry.The establishment of the Silk Road Fund has created a good financing for the transportation industry.Conditions,these inherent advantages brought by the belt strategy for the transport industry,will certainly have a good impact on its development.At the same time,the government gradually realized the opportunities and challenges brought by the road and belt strategy to the transport industry and intervened to some extent.Then,how does the financing environment and government intervention affect the development of the transportation industry?Based on the previous research on the impact of the financing environment on the development of enterprises,this paper exploratively incorporates the macro financing environment and the micro-financing environment into the framework for the study of the development of the transportation industry,and introduces government intervention factors to empirically analyze transport Industry listed companies.At the same time,on the basis of summarizing the above studies,this paper comprehensively analyzes the interaction between the macro and micro financing environment and the listed companies in the transportation industry;and fully considers government intervention in combination with other national policies(such as “business tax reform” for corporate tax reduction)to promote transportation.The development of listed companies in the industry,combined with the background of the road and belt strategy,put forward several policy suggestions on helping the development of the transport industry.In the context of the “One Belt and One Road” strategy,this paper uses listed companies in the transportation industry as research objects to study the interaction between macro and micro financing environment and transportation companies under the influence of government intervention.The empirical analysis finds that: in the macro-financing environment,there is a significant positive correlation between the securitization rate and the degree of marketization of economic resources allocation and the development of the transport industry;and there is no significant correlationbetween the inflation rate and the development of the transport industry.In the micro-financing environment,the company's operating capacity has a significant positive correlation with the development of the transportation industry.There is no significant correlation between the company size and the ownership structure of the company and the development of the transportation industry;the government intervention index has a significant positive correlation with the development of the transportation industry.Under the intervention of the government,the macro and micro financing environment has an important impact on listed companies in the transportation industry.Therefore,it is imperative that the development strategy of the innovative cooperation and multi-transportation approaches proposed by the transportation industry through road and belt strategies should be fully utilized to form a government-led approach.The financing mechanism to ease the financing constraints is of great significance to the development of listed companies in the transportation industry.