Commercial Credit and Corporate Productivity

As an important form of informal finance,commercial credit is widely used among enterprises.Does commercial credit promote the total factor productivity of enterprises?According to the theoretical literature and the reality,using the large sample data of Chinese industrial enterprises,the paper empirically tests the impact of commercial credit on the productivity of enterprises from three aspects:the provision and acquisition of commercial credit and the net commercial credit.The study finds that the provision of commercial credit reduces the productivity level of enterprises;the acquisition of commercial credit fails to promote productivity;while the net commercial credit as a short-term financial buffer for enterprises can alleviate the financing constraints,faced by enterprises,especially private enterprises,which help to increase their productivity levels.In addition,the study found that the higher the marketization process in the region,the more favorable the commercial credit is to the improvement of the production efficiency of private enterprises.

A Literature Review of the Influence of Social Capital on Commercial Credit

As a typical informal system,social capital plays an important supplementary role in China’s economic transition period.Informal finance based on commercial credit plays a role in the economic cycle.However,there is currently a lack of literature to directly examine the impact of social capital on the use of commercial credit by enterprises.This article aims to systematically sort out the theoretical development of social capital on commercial credit,which mainly includes the definition of social capital,its effects,the influencing factors of commercial credit,and the summary of the existing research results of social capital on commercial credit.It is hoped that this literature review will provide guidance for future research.

A Literature Review of the Influence of Commercial Credit on the Efficiency of Enterprise Capital Allocation

The real economy is the main body of high-quality development,and the efficiency of capital allocation is an important manifestation of the development of the real economy.Therefore,it is very important to study the efficiency of capital allocation.As a representative of horizontal finance,commercial credit has a significant impact on the improvement of capital allocation efficiency.In view of this,this article combs the literature on commercial credit and capital allocation efficiency from the following aspects:firstly,by studying the literature,combing the literature on the macro-level,micro-level and economic effects of commercial credit;secondly,the measurement method of capital allocation efficiency And the influencing factors are systematically sorted out,and finally sorted out and evaluated the existing literature on the influence of commercial credit on the efficiency of capital allocation.