摘要
伴随数字经济的蓬勃发展,数字普惠金融为缓解涉农企业融资约束提供了新的可能和路径。将北京大学数字普惠金融2011—2020年市级数据与中国涉农企业数据进行匹配,实证检验数字普惠金融发展对涉农企业融资约束的影响。研究表明:数字普惠金融发展可以显著缓解涉农企业融资约束,该结论在进行多种稳健性检验后依然成立。其中,数字普惠金融覆盖广度的影响效果优于使用深度和数字化程度;数字普惠金融发展能够通过降低融资成本、提高信息透明度等机制缓解涉农企业融资约束;数字普惠金融发展对非国有企业融资约束的缓解作用相对于国有企业更大,对加工服务业企业融资约束的缓解作用相对于养殖种植业企业更大。传统金融发展越好的地区,数字普惠金融发展对企业融资约束的缓解作用更强。总体而言,在缓解涉农企业融资约束异质性方面,数字普惠金融的“逐利性”大于其“普惠性”。文章为乡村振兴背景下解决涉农企业融资难题、助推农业经济发展提供理论参考和实践指引:第一,要继续推进数字普惠金融发展,为涉农企业提供数量众多、业态丰富的新型金融服务;第二,涉农企业要积极进行信息披露,减小与金融机构间的信息不对称程度,拓宽自身融资渠道;第三,要加大对落后地区和经营养殖种植业企业的扶持力度和资源倾斜,发挥数字普惠金融的应有之义。
With the vigorous development of digital economy,digital inclusive finance provides new possibilities and paths for alleviating the financing constraints of agriculture-related enterprises.By matching the municipal data of Peking University Digital Inclusive Finance from 2011 to 2020 with the data of China agriculture-related enterprises,the authors empirically test the influence of the development of digital inclusive finance on the financing constraints of agriculture-related enterprises.The research shows that:1)The development of digital inclusive finance can significantly alleviate the financing constraints of agriculture-related enterprises,and this conclusion is still valid after various robustness tests.Among them,the influence of digital inclusive finance coverage is better than the depth of use and the degree of digitization;2)The development of digital inclusive finance can alleviate the financing constraints of agriculture-related enterprises by reducing financing costs and improving information transparency;3)The development of digital inclusive finance has a greater alleviation effect on the financing constraints of non-state-owned enterprises than that of state-owned enterprises,and it has a greater alleviation effect on the financing constraints of processing service enterprises than that of aquaculture and planting enterprises.The better the development of traditional finance,the more effective the development of digital inclusive finance will be in alleviating the financing constraints of enterprises.Generally speaking,the“profit-seeking”of digital inclusive finance is greater than its“inclusiveness”in alleviating the heterogeneity of financing constraints of agriculture-related enterprises.This paper provides theoretical reference and practical guidance for solving the financing problems of agriculture-related enterprises and boosting the development of agricultural economy under the background of“rural revitalization”:First,we should continue to promote the development of digital i
作者
田霖
郭梦琪
TIAN Lin;GUO Mengqi(School of Business,Zhengzhou University,Zhengzhou 450001,P.R.China)
出处
《重庆大学学报（社会科学版）》
北大核心
2024年第3期70-85,共16页
Journal of Chongqing University(Social Science Edition)
基金
国家社会科学基金项目“虚拟集聚背景下服务乡村振兴的金融包容体系重构研究”(20BJY117)
国家留学基金委全额资助项目“金融地理学交叉学科拓展研究”(202007045045)。
关键词
数字普惠金融
涉农企业
融资约束
融资成本
信息透明度
digital inclusive finance
agriculture-related enterprises
financing constraints
financing cost
information transparency
