| Peer-Reviewed

Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province

Received: 4 May 2016     Published: 5 May 2016
Views:       Downloads:
Abstract

From the perspective of financial constraints, this article analysize the technological innovation decision of Fujian Province empirically using 2005-2007 micro firm data of the province under the formal and informal financing channels. We analyzed the influence of export trade, financial constraints on technology innovation. More important,the interaction between them. The results show that the financial constraints restrain the export of firms,thus affect the innovation decision, but the influence is quite different according to the different financing channels. Under the banks and other formal financing channels, the lower financial constraints of export firms, the stronger of its innovation propensity. But under the informal financing channels, trade credit has no significant effect on firms' innovation decision-making, nor affect firms' innovation through export mechanism.

Published in Science Innovation (Volume 4, Issue 2)
DOI 10.11648/j.si.20160402.24
Page(s) 99-104
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Financial Constraints, Firms' Innovation Decision, Export, Fujian Province

References
[1] Claessens, S., K. Tzioumis., Measuring firms' access to finance, Mineo, World Bank. 2006.
[2] 邓寿鹏.2000家企业技术创新的实证调查[J].中国科技产业1996(2):8-10。
[3] Chaney, T., Liquidity constrained exporters [OL]. Working paper, Department of Economics, University of Chicago, IL ,2005.
[4] Manova, K., Credit Constraints, Heterogeneity of Firms and International Trade [OL]. NBER working paper No.14531, 2008.
[5] Gorodnichenko and Schnitzer, Financial constraints and innovation: Why poor countries don't catch up [OL]. NBER Working Papers ,2010,No: 15792.
[6] 赵伟、韩媛媛、赵金亮.融资约束、出口与中国本土企业创新:机理与实证[J].当代经济科学,2012(6):98-108。
[7] 李后建、刘思亚.银行信贷、所有权性质与企业创新[J].科学学研究,2015(7):1089-1099。
[8] Allen, F., J. Qian and M. Qian, Law, Finance and Economic Growth in China [J]. Journal of Financial Economics,2005,77: 57-116.
[9] Bönte W. and Nielen S., Product Innovation, Credit Constraints and Trade Credit: Evidence from a Cross-country Study [OL]. Manage. Decis. Econ. 2011,32: 413-424.
[10] 赖永文、沈理明、林路曦.福建省非正规金融变迁、效应及规范发展[J].福建金融,2012(8):17-21.
[11] 孔祥贞、刘海洋、徐大伟.出口固定成本、融资约束与中国企业出口参与[J].世界经济研究,2013(4)。
[12] Li Zhiyuan and Yu Miaojie. Exports, Productivity, and Credit Constraints: A Firm-Level Empirical Investigation of China [OL]. CCER Working Paper, No.2009005.
[13] Ge Ying, Qiu Jiaping, Financial development, bank discrimination and trade credit [J]. Journal of Banking and Finance,2007,31(2) :513-530.
[14] 于洪霞、龚六堂、陈玉宇.出口固定成本融资约束与企业出口行为[J].经济研究,2011(4):55-67。
[15] Manova, K., S.-J. Wei and Z. Zhang., Firm Exports and Multinational Activity under Credit Constraints [OL]. NBER working paper No.16905, 2011.
Cite This Article
  • APA Style

    Han Yuanyuan, Zhao Jinliang. (2016). Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province. Science Innovation, 4(2), 99-104. https://doi.org/10.11648/j.si.20160402.24

    Copy | Download

    ACS Style

    Han Yuanyuan; Zhao Jinliang. Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province. Sci. Innov. 2016, 4(2), 99-104. doi: 10.11648/j.si.20160402.24

    Copy | Download

    AMA Style

    Han Yuanyuan, Zhao Jinliang. Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province. Sci Innov. 2016;4(2):99-104. doi: 10.11648/j.si.20160402.24

    Copy | Download

  • @article{10.11648/j.si.20160402.24,
      author = {Han Yuanyuan and Zhao Jinliang},
      title = {Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province},
      journal = {Science Innovation},
      volume = {4},
      number = {2},
      pages = {99-104},
      doi = {10.11648/j.si.20160402.24},
      url = {https://doi.org/10.11648/j.si.20160402.24},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.si.20160402.24},
      abstract = {From the perspective of financial constraints, this article analysize the technological innovation decision of Fujian Province empirically using 2005-2007 micro firm data of the province under the formal and informal financing channels. We analyzed the influence of export trade, financial constraints on technology innovation. More important,the interaction between them. The results show that the financial constraints restrain the export of firms,thus affect the innovation decision, but the influence is quite different according to the different financing channels. Under the banks and other formal financing channels, the lower financial constraints of export firms, the stronger of its innovation propensity. But under the informal financing channels, trade credit has no significant effect on firms' innovation decision-making, nor affect firms' innovation through export mechanism.},
     year = {2016}
    }
    

    Copy | Download

  • TY  - JOUR
    T1  - Firms' Export and Technological Innovation Decision from the Perspective of Financial Constrains: Evidence from Manufacturing Firms of Fujian Province
    AU  - Han Yuanyuan
    AU  - Zhao Jinliang
    Y1  - 2016/05/05
    PY  - 2016
    N1  - https://doi.org/10.11648/j.si.20160402.24
    DO  - 10.11648/j.si.20160402.24
    T2  - Science Innovation
    JF  - Science Innovation
    JO  - Science Innovation
    SP  - 99
    EP  - 104
    PB  - Science Publishing Group
    SN  - 2328-787X
    UR  - https://doi.org/10.11648/j.si.20160402.24
    AB  - From the perspective of financial constraints, this article analysize the technological innovation decision of Fujian Province empirically using 2005-2007 micro firm data of the province under the formal and informal financing channels. We analyzed the influence of export trade, financial constraints on technology innovation. More important,the interaction between them. The results show that the financial constraints restrain the export of firms,thus affect the innovation decision, but the influence is quite different according to the different financing channels. Under the banks and other formal financing channels, the lower financial constraints of export firms, the stronger of its innovation propensity. But under the informal financing channels, trade credit has no significant effect on firms' innovation decision-making, nor affect firms' innovation through export mechanism.
    VL  - 4
    IS  - 2
    ER  - 

    Copy | Download

Author Information
  • School of Economics and Finance, Huaqiao University, Quanzhou, China

  • Xiamen Branch, China Construction Bank, Xiamen, China

  • Sections