首页> 外文期刊>The journal of applied business research >Does Accessibility To Different Sources Of Financial Capital Affect Competitive Advantage And Sustained Competitive Advantages? Evidence From A Highly Regulated Chinese Market
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Does Accessibility To Different Sources Of Financial Capital Affect Competitive Advantage And Sustained Competitive Advantages? Evidence From A Highly Regulated Chinese Market

机译:获得不同来源的金融资本是否会影响竞争优势和持续竞争优势?来自高度管制的中国市场的证据

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摘要

We investigate whether access to different financial capital sources offers competitive advantages in China's highly regulated market. To identify sources and analyze financial capital relationships that affect competitive advantages, we study 6750 firm-year observations from 2000-2009. Firms gain competitive advantages when they can access internal and external financing in equities, bonds and equity-financed capital. Financial industry reforms benefit large private and government-owned firms. Regional institutional developments help to access sources of external financial capital. Implications include the need to mobilize external financial resources for small and private firms and further reform security regulations to ensure fair competition and sustainability.
机译:我们调查在中国高度管制的市场中,获取不同金融资本来源是否具有竞争优势。为了确定来源并分析影响竞争优势的金融资本关系,我们研究了2000年至2009年的6750个企业年观察值。当企业可以通过股票,债券和股权融资资本获得内部和外部融资时,它们将获得竞争优势。金融业改革使大型私营和国有企业受益。区域机构的发展有助于获取外部金融资本的来源。这意味着需要动员小型和私营公司的外部财务资源,并进一步改革安全法规,以确保公平竞争和可持续性。

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