Credit Constraints, Corporate Transparency, and Export

Yikai Zhao, Rui Sun and Jun Nagayasu

No 139, DSSR Discussion Papers from Graduate School of Economics and Management, Tohoku University

Abstract: This study investigates the impact of corporate transparency on a firm's extensive margin in exports ("transparency-export" (TE) relationship). We propose a theoretical model for an asym­metric information environment and demonstrate that the TE relationship depends on a firm's current corporate transparency record. Moreover, we posit that mandated firms, especially those with severe financing constraints, can harm their export activities to enhance transparency. How­ever, improving a city's financial deepening and legal environment could offset these negative impacts and positively impact its TE relationship. The Chinese data support these theoretical implications.

Pages: 51 pages
Date: 2024-02
New Economics Papers: this item is included in nep-cfn, nep-int and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:toh:dssraa:139

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