中美贸易摩擦、企业家精神与金融资产配置被引量：6

China-US Trade Friction,Entrepreneurship and Financial Asset Allocation

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摘要基于2009-2020年中国沪深A股制造业上市公司数据,文章考察中美贸易摩擦、企业家精神与企业金融资产配置的关系。研究发现:中美贸易摩擦显著提高了企业金融资产配置;企业家精神在中美贸易摩擦与企业金融资产配置之间发挥了部分中介作用;产权性质以及是否为出口企业显著调节了企业家精神对中美贸易摩擦与企业金融资产配置关系的中介作用,即当企业为国有企业或出口企业时,企业家精神对企业金融资产配置的抑制作用减弱。研究揭示了中美贸易摩擦对微观企业金融资产配置的影响路径以及中美贸易摩擦下企业家精神对金融资产配置的治理作用,为制定外贸政策、弘扬企业家精神从而抑制企业“脱实向虚”提供了经验证据。 Based on the data from 2009 to 2020 of listed companies in the manufacturing industry of China,this research explores the relationship among China-US trade friction,entrepreneurship and the financial asset allocation.The results show that ChinaUS trade friction significantly increases the financial asset allocation.Entrepreneurship plays a partial mediating role in the relationship between China-US trade friction and enterprises’financial asset allocation.It is also found that the nature of enterprise property rights and whether enterprises are exporters significantly moderate the mediating role of entrepreneurship between China-US trade friction and enterprises’financial asset allocation,that is,when the enterprises are state-owned or exporters,the inhibitory effect of entrepreneurship on enterprises’financial asset allocation is weakened.The significance of the research is to reveal the impact path of China-US trade friction on micro enterprises’financial asset allocation and the governance effect of entrepreneurship on financial asset allocation under China-US trade friction,which provides important empirical evidence for formulating foreign trade policies,promoting entrepreneurship,and alleviating from real to virtual.

作者吴娜白雅馨刘聪慧于博 Na Wu;Yaxin Bai;Conghui Liu;Bo Yu(School of Accounting,Tianjin University of Finance and Economics,Tianjin 300222,China;Working Capital Management Institute,Tianjin University of Finance and Economics,Tianjin 300222,China;Tianjin Binhai Company,State Grid,Tianjin 300450,China;School of Finance,Tianjin University of Finance and Economics,Tianjin 300222,China)

机构地区天津财经大学会计学院天津财经大学营运资本管理研究所国网天津滨海公司天津财经大学金融学院

出处《会计与经济研究》 CSSCI 北大核心 2022年第3期15-32,共18页 Accounting and Economics Research

基金国家社会科学基金面上项目(17BGL062)

关键词中美贸易摩擦企业家精神金融资产配置脱实向虚 China-US trade friction entrepreneurship financial asset allocation from real to virtual

分类号 F752.7 [经济管理—国际贸易] F757.12 [经济管理—国际贸易] F832.51 [经济管理—金融学] F425 [经济管理—产业经济]

作者简介吴娜,博士,天津财经大学会计学院、营运资本管理研究所教授,38715696@qq.com;通讯作者:白雅馨,天津财经大学会计学院博士研究生,1414963258@qq.com;刘聪慧,国网天津滨海公司实习生,15502253959@163.com;于博,博士,天津财经大学金融学院、营运资本管理研究所副教授,yubo@tjufe.edu.cn。