How Does Coupling Coordination of Domestic and Foreign Sales Enhance Firm's Export Resilience:Mechanism and Evidence from China
Based on the theoretical analysis of how the coupling coordination of domestic and foreign sales(hereafter referred to as CCDF)affects the firm's export resilience,this paper makes an empirical test by using micro data of Chinese enterprises.The re-sults show that the CCDF has a significant positive effect on firm's export resilience in both the periods of resistance and recovery.This conclusion is still significantly robust with controlled endogeneity and different measurement methods.From the sub-sam-ples,CCDF has a greater promoting effect on firm's export resilience of state-owned firms,general trade firms and firms in the central and western regions of China.In addition,reducing operating risk and cultivating high-level competitive advantages are two main influence channels for CCDF to enhance firm's export resilience.Further research shows that relying solely on replacing export with domestic sales has limitations for enhancing firm's export resilience,and the proportion of domestic sales in the firm's sales structure needs to be adjusted adaptively according to the developing stages of macroeconomic.Moreover,in the period of resistance,"Promising Government"can reduce the impact of"market failure"and thus enhance firm's export resilience;but in the period of recovery,the overwhelming government intervention leads to market segmentation,which will weaken firm's export resilience.Therefore,under the new development pattern of"Dual Circulation",it is important to smooth the flow of domestic and international circulation,clarify the boundary between the government and the market,and improve the coupling coordination level of domestic and foreign sales of firms,so as to enhance firm's export resilience.
NETL
NSTL
万方数据
