政府补贴能提高农业企业的企业绩效吗?——基于融资约束的中介效应

Do Government Subsidies Increase the Enterprises Performance of Agribusinesses?Based on the Mediating Effect of Financing Constraints

农业上市公司作为农业产业发展的主力军,是促进乡村振兴的重要动力引擎。基于此,聚焦于农业上市公司在乡村振兴战略中的绩效提升,进一步深入探讨了融资约束在政府补贴影响企业绩效过程中的作用机理,研究结果表明,我国农业类上市公司的政府补助与其企业绩效之间存在着显著的正相关关系,融资约束对企业绩效具有正向积极的作用,同时融资约束在政府补贴促进企业绩效提升的关系发挥着中介效应,效应显著程度为部分中介效应。

As the main force of agricultural industry development,agricultural listed companies are an important power engine to promote rural revitalization.Based on this,focusing on the performance improvement of agricultural listed companies in the rural revitalization strategy,the mechanism of financing constraints in the process of government subsidies affecting corporate performance was further explored.The research results show that there is a significant positive correlation between government subsidies and corporate performance of agricultural listed companies in China.Financing constraints have a positive effect on corporate performance.At the same time,financing constraints play an intermediary role in the relationship between government subsidies and corporate performance improvement,and the degree of significance of the effect is a partial intermediary effect.