| Enterprises play an important role in the economic development of a country.Now,China is in a critical stage of economic restructuring.The transformation of economic structure depends to a great extent on the innovation power of enterprises and their international competitiveness.The improvement of enterprise competitiveness is based on the enterprise's products and its market position,but our enterprises are now facing a big problem: financing is difficult,financing is expensive.There is not enough funds to support Enterprise R&D,increase production,expand the scale,enterprises can only decline.In the case of difficulties in their own survival,enterprises can not concentrate on R&D,their innovation and international competitiveness is also difficult to improve,which will have a greater obstacle to the successful transformation of our economic structure.Through the analysis and collation of previous studies,it is found that one of the important reason why enterprises face financing predicament is the existence of high financial repression in our country,therefore,the research on the relationship between financial repression and enterprise financing ability is of great practical significance.Firstly,this paper makes an in-depth analysis of the theoretical mechanism of financial repression affecting enterprise financing,and obtains three research hypotheses related to it.Secondly,the financial repression index of 1996-2016 years in 31 provinces of China is measured by Coefficient of variation method,and compared the difference of financial repression degree in different provinces.Thirdly,conduct the empirical research,this paper uses the panel fixed effect model for regression,validates the 3 research hypotheses proposed in this paper,and conduct a robustness test to verify its accuracy.At the end of the article is the conclusion and policy suggestion,Summarize the main conclusions drawn from the article,and put forward relevant policy suggestions accordingly. |
PDF Full Text Request