Abstract
Based on the existing literature, this paper analyzes the mechanism of financing constraints affect going global and puts forward corresponding theoretical hypotheses. By using the panel data of Yunnan Industrial Enterprises from 2005 to 2014, this paper uses the export as a measure of going global and constructs a measurement model based on the total amount of enterprise profit, interest expense and control variable as explanatory variables, and conducts an empirical test. The research shows that the larger the financial constraints, the fewer exports; compared with the endogenous financing constraints, export-oriented enterprises are more constrained by exogenous financing.
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