Impact of Falling Bank Interest Rates on the High Quality of Business Development
Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v5i5.2874
Abstract
In the context of encouraging financial support entities in China, this paper studies the impact of the decline of bank interest rate on the high-quality development of enterprises from the perspective of financing constraints and enterprise technology innovation. The study has found that the decline in bank interest rates can promote the high-quality development level of enterprises. Further channel analysis shows that the decrease of enterprise financing cost caused by the reduction of bank loan interest rate will make enterprises increase their investment in technological innovation, so as to improve the high-quality development level of enterprises. This paper has some enlightenment for understanding the positive role of financial support entities and improving the high-quality development level of enterprises.
Keywords
benchmark interest rate reduction; high-quality development; financial support entity; technological innovation
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[4] Huang Xianhuan, Wang Cui. Shadow banking and surplus sustainability of non-financial enterprises [J]. Auditing and Economic Research, 2021,36 (04): 80-89.
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[6] Li Jinglin, Yang Zhen, Chen Jin, et al. Research on the mechanism of ESG in promoting enterprise performance —— Based on the perspective of enterprise innovation [J]. Science and Science and Technology Management, 2021,42 (09): 71-89.
[7] Xi Longsheng, Zhao Hui. Mechanism and data test of enterprise ESG performance affecting the sustainability of earnings [Z] / / Management Review: Volume 34.2022:313-326.
[8] Li Zengfu, Feng Liuhua. Enterprise ESG Performance and Business Credit Acquisition [Z] / / Financial Research: Vol. 48.2022:151-165.
[9] Wang Sanxing, Wang Ziming. Enterprise ESG performance, innovation and total factor productivity [Z] / / macroeconomic research.2023: 62-74.
[10] Zhang Qia, Liu Zhiming. Does the governance of state-owned major shareholders promote the high-quality development of private enterprises [Z] / / Accounting monthly: Volume 45.2024:27-33.
[11] Yuan Xina, Lin Xiaoqing, Ding Meixia. Entrepreneurship, vertical network quality and high-quality development of manufacturing enterprises [J]. Journal of Guangdong University of Finance and Economics: 1-14.
[12] Liu Zhaomin. Technology market scale, financialization of enterprises and high-quality development of real economy [J]. Financial Theory and Practice, 2023 (10): 34-43.
[13] Yu Mei, Bian Jiangze. The logic, practical path and future prospect of the high-quality development of China's capital market service [Z] / / administrative management reform.2024: 54-62.
[14] Zhang Xuan, Liu Beibei, Wang Ting, et al. Credit rent-seeking, financing constraints and enterprise innovation [J]. Economic Research, 2017,52 (05): 161-174.
[15] Zhang Zhaoguo, Xu Yaqin, Cheng Juan. Business environment, innovation activity and high-quality enterprise development [J]. Soft Science of China, 2024 (01): 130-138.
[16] Chen Lishan, Fu Yuanhai. The dynamic characteristics of technological innovation affecting the high-quality development of enterprises under the condition of financing constraints [J]. China Soft Science, 2019 (12): 108-128.
[17] He Guosheng, Liu Xuan. Digital finance, entrepreneurship effect and high-quality development of the real economy [J]. Journal of Xi'an Jiaotong University (Social Science Edition): 1-17.
[18] Li Xiaoqing, He Weixuan. Digital innovation, business environment and high-quality development of enterprises — Based on the empirical evidence of listed companies in the new generation of information technology industry [J]. Science and Science and Technology Management, 2022,43 (11): 56-77.
[19] Shao Chuanlin. Regional Business environment and High-quality Development of Private Enterprises: Empirical Evidence from China [Z] / / Research on Economy and Management: Vol. 42.2021:42-61.
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