Market Position And Trade Credit Supply

Under the current market economy framework,commercial credit financing has fewer financing constraints and higher acquisition rate,which can solve the sales problems of upstream enterprises and financing problems of downstream enterprises.For upstream enterprises,especially those with low market position,the increasing commercial credit supply,as an important part of enterprise working capital management,will directly affect the efficiency of capital use and thus increase the risk of enterprise survival and operation.At the same time,enterprises are also producers of commodities,and the signals sent by products will inevitably affect the sales performance and customer relationship of enterprises,thus affecting the supply of commercial credit between upstream and downstream.Therefore,from the perspective of market position and product uniqueness,it is of practical significance to study the influencing factors and influencing ways of commercial credit supply for enterprises to make strategic decisions and maintain relationships in the supply chain in the actual operation process.This paper focuses on the following questions:is the supply of commercial credit affected by the market position of enterprises,product uniqueness and other factors?Taking non-financial A-share listed enterprises from 2012 to 2018 as research samples,this paper empirically analyzes the relationship between market position,product uniqueness and commercial credit supply.And introduce the marketization process,empirical analysis in different marketization process regions,product uniqueness in the market position and the regulation of commercial credit supply.The empirical results show that:(1)the market position of enterprises is negatively correlated with the supply of commercial credit.(2)the negative correlation between the market position of enterprises and the supply of commercial credit is more significant in the group with high product uniqueness.Further research shows that in regions with low marketization process,the negative correlation between improving product uniqueness and enhancing market position and commercial credit supply is more significant.The results were unchanged after a series of robustness tests.This paper provides theoretical and empirical support for the supervision and decision-making of commercial credit supply and product innovation and optimization.