Empirical Analysis of Customer Risk and Corporate Financing Constraints Based on Supply Chain Networks
Table 7
Regression results of the adjustment effect of monetary policy and industry competitiveness.
(1)
(2)
Invest
Invest
CashFlow
0.0899
0.0736
(2.74)
(2.61)
Risk
0.0286
0.0371
(1.16)
(1.57)
RiskCashFlow
1.4678
1.4242
(1.70)
(2.75)
RiskCashFlowMP
−0.2433
(−1.69)
MP
0.0008
(1.15)
RiskCashFlowHHI
−6.6113
(−1.67)
HHI
0.0248
(1.25)
Hold
0.0235
0.0204
(2.60)
(2.07)
Std
0.0394
0.0094
(4.38)
(3.10)
Msh
0.0314
0.0351
(4.74)
(4.79)
ROA
0.0536
0.0513
(1.45)
(1.94)
Growth
−0.0082
−0.0021
(−1.68)
(−0.57)
Age
−0.0094
−0.0077
(−2.34)
(−1.90)
KHROA
0.1127
0.0989
(3.29)
(3.00)
KHAge
0.0031
0.0058
(0.70)
(1.29)
Constant
0.0840
0.0941
(2.86)
(2.84)
Year
Yes
Yes
Industry
Yes
Yes
N
1089
1088
R2
0.2203
0.2101
Note. ,, and indicate that the test coefficients are significant at the 1%, 5%, and 10% levels, respectively, and in parentheses, it displays the value t.
