农业供应链金融能有效缓解企业的融资约束?——涉农企业参与精准扶贫的实证研究

Can Agricultural Supply Chain Finance Alleviate the Financing Constraints of Agricultural Enterprises?——Evidence from the Enterprises’Participation in Targeted Poverty Alleviation

农业供应链金融为涉农企业融资难问题提供了新思路。本文以上市涉农上市企业2016~2018年的财务数据为样本,探讨了农业供应链金融对缓解企业融资约束的影响,以及涉农企业参与精准扶贫对缓解融资约束的调节作用。研究发现:涉农企业普遍面临融资约束问题,而农业供应链金融显著缓解了涉农企业的融资约束,且对参与精准扶贫企业的融资约束缓解更为显著。本文揭示了:农业供应链金融能有效缓解涉农企业的融资约束问题,再次证明了农业供应链金融缓解涉农企业融资约束的重要性和必要性,拓展了供应链金融研究的领域,同时对企业参与精准扶贫,响应新时期涉农企业社会责任的具体要求,形成政府、企业等共同承担社会责任的多元化减贫治理机制,助力乡村振兴提供相应借鉴。

Agricultural supply chain finance provides a new way to solve the financing problem of agricultural enterprises.The paper tests the hypothesis by analyzing the relevant financial data of listed agricultural enterprises from 2016 to 2018.The results show that:First,China’s agricultural enterprises generally face the problem of financing constraints.Secondly agricultural supply chain finance significantly alleviates the financing constraints of agricultural enterprises.Furthermore,the regulatory effect of enterprise targeted poverty alleviation on the financing constraints of agricultural supply chain finance is more significant.The paper reveals the importance and necessity of agricultural supply chain finance to alleviate the financing constraints of agricultural enterprises,extends the research field of supply chain finance to agriculture industry,and provides some advice to the participation of agricultural enterprises in targeted poverty alleviation to push rural revitalization.