龙头企业主导型数字化农业产业链金融对农户信贷约束的影响研究——基于PSM-DID模型的实证分析  

Research on the Infl uence of Leading Enterprise-Led Digital Agricultural Industry Chain Finance on Farmers’Credit Constraints--An Empirical Analysis Based on PSM-DID Model

作　　者：李轶赫 梁家宁 曾静怡 LI Yihe;LIANG Jianing;ZENG Jingyi(School of Economics and Finance,Nanjing Agricultural University Nanjing,Jiangsu 210095)

机构地区：[1]南京农业大学金融学院,江苏南京210095

出　　处：《中国商论》2023年第10期116-122,共7页China Journal of Commerce

基　　金：江苏省大学生创新创业训练计划立项项目(202210307146Y)。

摘　　要：本文利用2020年和2022年四省288户农户信贷约束情况的两期面板数据,运用PSM-DID模型,考察了龙头企业主导型数字化农业产业链金融对农户信贷约束的影响,并分析了缓解农户需求型信贷约束的具体路径。研究发现,龙头企业主导型数字化农业产业链金融能够显著降低农户的供给型信贷约束和需求型信贷约束。进一步研究发现,对于需求型信贷约束而言,该产业链金融政策能显著缓解农户交易成本约束和融资风险约束,但对认知偏差约束无明显作用。本文从实证方面印证了数字农业产业链金融在农户融资方面的改善作用,为缓解农户融资难问题提供了微观经验数据,也为数字化农业产业链金融在农村的进一步发展提供了政策启示。Based on the panel data of 288 households’credit constraints in four provinces in 2020 and 2022 and the PSM-DID model,this paper systematically investigated the impact of leading enterprise-led digital agricultural industry chain fi nance on farmers’credit constraints,and analyzed the specifi c path to alleviate farmers’demand credit constraints.It is found that the leading enterprise-led digital agricultural industry chain fi nance can signifi cantly reduce the constraints of farmers’supply credit and demand credit.Further research in this paper shows that for demand-oriented credit constraints,the industrial chain fi nancial policy can signifi cantly alleviate the transaction cost constraints and fi nancing risk constraints of farmers,but has no significant effect on cognitive bias constraints.This paper empirically confirms the improving role of digital agricultural industry chain fi nance in farmers’fi nancing,provides micro empirical data for alleviating farmers’fi nancing diffi culties,and also provides policy enlightenment for the further development of digital agricultural industry chain fi nance in rural areas.

关 键 词：数字化农业产业链金融 供给型信贷约束 需求型信贷约束 龙头企业主导型 PSM-DID 

分 类 号：F324[经济管理—产业经济]