A research on the impact of enterprises´ financial conditions on export behavior — An empirical analysis based on the data of China´s manufacturing enterprises

Through a detailed investigation of sample data of all state-owned enterprises and non-state-owned enterprises above designated size over the period 2005-2007, we carry out an empirical research on the strength and mechanism of the influence of enterprises´ financial conditions on their export behaviors. The results show that, first, just as the theoretical model described by Chaney (2005) points out, besides productivity, enterprises´ export market participation is subject to their financial conditions; second, enterprises´ export behaviors are impacted by their financial conditions through an overcome of entry costs as well as variable costs after making exportation; third, we find that the conclusion above is still valid when the samples are divided into exporters and non-exporters to be observed respectively.