Can Social Capital Improve the Export of Private Enterprises?
How to improve the export behavior of private enterprises is of great practical significance to the development of China's foreign trade.Based on the Chinese Private Enterprise Survey data over the years,this paper studies the influence of social capital on the export behavior of private enterprises from the perspective of informal institutions.The results of benchmark regression show that the increase of enterprise social capital investment significantly increases the export scale and export possibility of enterprises.Channel analysis shows that social capital is mainly promoting enterprise export through increasing market opportunities,easing financing constraints and improving enterprise risk bearing ability.Heterogeneity analysis shows that this promotion effect is more obvious for male entrepreneurs,larger scale and higher profit margin enterprises.Further analysis also finds that formal institutions help to enhance the influence of social capital on firms'export behavior.The research in this paper provides theoretical support for the government to promote enterprise exports from the perspective of informal system and realize the high-quality development of China's foreign trade.
social capitalexportprivate enterprisesinformal institutions
万方数据
维普
