A research on the impact of enterprises' financial conditions on export behavior — An empirical analysis based on the data of China's manufacturing enterprises

摘要

Through a detailed investigation of sample data of all state-owned enterprises and non-state-owned enterprises above designated size over the period 2005–2007, we carry out an empirical research on the strength and mechanism of the influence of enterprises' financial conditions on their export behaviors. The results show that, first, just as the theoretical model described by Chaney (2005) points out, besides productivity, enterprises' export market participation is subject to their financial conditions; second, enterprises' export behaviors are impacted by their financial conditions through an overcome of entry costs as well as variable costs after making exportation; third, we find that the conclusion above is still valid when the samples are divided into exporters and non-exporters to be observed respectively.