Research on the Paths of Financial Marketization Promoting Private Agriculture Enterprise Development--Empirical Evidence from Exempted Listed Agriculture Companies

DOI

10.2991/icemse-17.2017.20How to use a DOI?

Keywords

financial development, agricultural enterprises, path

Abstract

This article selects A-share listed tax-free private companies of agriculture, forestry, herd and fishery during the period from 2008 to 2010 as a sample. In the absence of income tax effect, this paper explores the avenue of financial development promoting the development of private agricultural enterprises. The findings show that: firstly, financial development promotes the development of private agricultural enterprises by easing financing constraints. Secondly, financial development can improve the debt capacity of strong profitable and financial healthy companies. Empirical results show that easing financing constraints and effective screening profitable and financial healthy enterprises are the two specific paths that financial development promoting private agricultural enterprises development. Compared with other agricultural support policies, financial market exist less rent-seeking and corruption or other agency issues in the resources allocation process. So, in the process of developing private agricultural enterprises, the government has to use the screening function of financial market to improve the allocation efficiency of financial resources and to promote the development of high-quality private agricultural enterprises.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Zuguang Wu
AU  - Xinyue Wan
PY  - 2017/12
DA  - 2017/12
TI  - Research on the Paths of Financial Marketization Promoting Private Agriculture Enterprise Development--Empirical Evidence from Exempted Listed Agriculture Companies
BT  - Proceedings of the 2017 2nd International Conference on Education, Management Science and Economics (ICEMSE 2017)
PB  - Atlantis Press
SP  - 82
EP  - 86
SN  - 2352-5428
UR  - https://doi.org/10.2991/icemse-17.2017.20
DO  - 10.2991/icemse-17.2017.20
ID  - Wu2017/12
ER  -