Research On The Impact Of Interest Rate Control Relaxation On Enterprise Inventory Adjustment Behavior

The reform of interest rate marketization is an inevitable requirement for the development of the socialist market economy to a certain stage,and it is also a policy that the Chinese government has been striving in the near future.Since the 18 th National Congress,China has actively promoted the reform of the financial system to promote the improvement of interest rate marketization.The government has appropriately adjusted and optimized the original interest rate system of commercial banks in light of the current development of China's market,and further deepened the process of interest rate marketization.The completion of the interest rate marketization reform has effectively promoted the maturity and improvement of China's financial market,broadened the types of financial industry,and provided the impetus for the development of the banking industry.At the same time,the maturity and improvement of the financial market also provides an important impetus for the development of micro-enterprises.The nature of ownership of enterprises is different,the level of regional financial development is different,and the impact of interest rate liberalization is different.The relaxation of loan interest rate regulation is an important part of the process of interest rate marketization reform.Whether in the macroeconomic perspective or the micro-enterprise perspective,inventory plays a vital role in it.From a macro perspective,an in-depth study of inventory volatility can provide an important contribution to understanding the volatility of the economic cycle.From a micro perspective,inventory can significantly affect a manufacturer's productivity.When factors such as technology and equipment remain unchanged,holding an appropriate amount of inventory can promote the improvement of the core competitiveness of the enterprise and consolidate and enhance its competitive position in the market.Based on this,in this study,the enterprise inventory adjustment is taken as the entry point,combined with the current situation of China's interest rate marketization reform,using the double difference model,the relaxation of the loan interest rate ceiling control and the lower limit control are relaxed for different types of enterprises and financial development levels.The impact of inventory adjustment behaviors of enterprises in various regions was discussed.It helps to find out the impact mechanism of national interest rate control relaxation on the inventory adjustment behavior of enterprises.From the perspective of the government,the research in this paper can provide a certain theoretical basis for the government,and formulate reasonable policies and strategies for the operation and development of enterprises in the current context.Measures to help enterprises adapt to the new environment;from the perspective of enterprises,this paper can provide reference for the formulation of business strategies in the context of interest rate marketization reform,and promote the development of enterprises.The article first summarizes the research of the predecessors,puts forward the research hypothesis of this paper,and then obtains the research samples through the CSMAR and RESSET databases,and uses the double difference model for regression analysis and robustness test.Finally,the following conclusions are drawn: compared with the state-owned enterprises The loan interest rate ceiling will be liberalized,nonstate-owned enterprises will raise the inventory level,and the lower limit of the loan interest rate will be held to reduce the inventory level of non-state-owned enterprises;this conclusion is more obvious in areas with low financial development levels.The conclusions of this paper deepen the understanding of the enterprise inventory adjustment behavior,and further expand the research field of interest rate marketization and micro-enterprise behavior interaction.