The Impact Of Transportation Infrastructure On Enterprise Inventory

In the past decades,the government has strongly supported and improved the construction of transportation infrastructure,and also played a role in promoting the rapid development of manufacturing industry.Under the background of the development of transportation infrastructure in China,it is of great significance to study and analyze the role of transportation infrastructure in the inventory of enterprises,and to expand the theory of public infrastructure investment in theory.This paper theoretically analyzes the impact mechanism of transportation infrastructure on enterprise inventory.The construction of transportation infrastructure promotes the development of information flow and commodity flow,expands the market scale of enterprises,and increases the market demand of products to promote the increase of enterprise inventory.On the one hand,transportation infrastructure improves the terms of trade,promotes the development of information flow,improves trade and cooperation among enterprises,stimulates enterprises to expand the market,improves the market scale of enterprises,increases the market demand of enterprise products,and improves the inventory level of enterprises.On the other hand,the accessibility of transportation infrastructure reduces transportation costs,and the decline in transportation costs is conducive to improving the market scope of enterprises,expanding the market scale of enterprises,and also promoting the gradual expansion of the scope of enterprise sales,stimulating enterprises to improve production efficiency and causing enterprises to increase inventory.Based on the sample of manufacturing enterprises above scale in China from2000 to 2012,this paper analyze the impact of transportation infrastructure on enterprise inventory.The material inventory in Chinese industrial enterprise database is selected as the agent variable of enterprise inventory,and the panel regression model is used to carry out benchmark regression and heterogeneity test.Then this paper takes the fixed assets of the enterprise as the agent variable of the enterprise market scale,tests and analyzes the intermediary effect of the transportation infrastructure on the enterprise inventory by introducing the intermediary variable of the enterprise market scale.The results show that:(1)the transportation infrastructure has a significant positive impact on the inventory of enterprises;(2)the transportation infrastructure can promote the dissemination of information and improve the terms oftrade to promote the expansion of enterprise market scale,the expansion of enterprise market scale will increase the demand of enterprise products and increase the level of enterprise inventory,so the enterprise market scale has a intermediary effect in the process of transportation infrastructure affecting enterprise inventory;(3)The impact of transport infrastructure on regional inventories are different.The heterogeneity test shows that transportation infrastructure has a significant impact on the enterprise inventory in the eastern and central regions,but not on the western regions.The possible reason is that the traffic network construction in the western region is not developed in the other two regions,and compared with the eastern and central regions,the level of economic development in the western region is also relatively backward.Therefore,some relevant policy recommendations should be put forward on this basis,first of all,the government should pay attention to the development of enterprises,The construction of transportation infrastructure not only affects people's working environment and travel conditions,but also affects the choice of geographical location of enterprises.The government should continue to give the enterprise policy subsidy appropriately,encourage the enterprise to improve its own operation efficiency and obtain better benefit in the market.Secondly,it is necessary to reduce the imbalance and disharmony of economic development between regions and speed up the construction of regional integration.If we want to build roads first,the economic activities of a region's micro-market can not be separated from developed transportation.The expansion of transportation network can promote the dissemination of information and technology,promote joint production and cooperation between different regions,and once again,the government should attach importance to infrastructure construction and rationally plan the scale of investment in transportation infrastructure.Finally,the government should pay attention to the development of transportation and releases relevant preferential transport policies.