Analysis of the Mechanism of Financing Constraints Affecting Financial Flexibility Based on Big Data

摘要

According to relevant data satellite research samples of Chinese listed companies from 2012 to 2017, starting from the concept of big data, this paper chooses appropriate samples and carries out big data research on financing flexibility affecting financial flexible management from different angles. In the current paper, we discuss in detail how corporate financial flexibility is affected by financing constraints and financial development levels. The study found that, on the one hand, financial flexibility is largely influenced by the degree of financing constraints; on the other hand, if there is a relatively high degree of financial constraints, it will lead to higher financial flexibility. In addition, if there are differences in the level of financial development in each region, there may be a certain degree of financial risk. Financing constraints have different effects on the financial flexibility of listed companies. For regions with a high degree of financial development, this impact is less pronounced. If the region in which it is located has a relatively low level of financial development, the impact will be very large. For a situation with a high degree of financing constraints, it will correspond to higher financing flexibility.