Abstract
In recent years, the continuous development of urban rail transit in China not only effectively alleviates urban traffic congestion, environmental pollution and other problems, but also drives the development of a series of upstream and downstream related industries. Based on the theory of industrial cluster, this paper analyzes the impact of urban rail transit operation on the financing constraints of small and medium-sized enterprises(SMEs) with the financial data of small and medium-sized listed companies in 2009–2018 as the research sample. It is found that the opening and operation of urban rail transit effectively eases the financing constraints of small and medium-sized listed enterprises, moreover, it has a more obvious role in easing the financing constraints of directly related industries and large-scale enterprises. The study of this paper provides some reference for alleviating the financing constraints of small and medium-sized enterprises, and also provides empirical evidence from the micro enterprise level for the economic consequences of urban rail transit construction and operation in China.
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Acknowledgements
The National Natural Science Foundation of China subsidized project: “Research on the Performance Evaluation System of PPP Passenger Flow-Value Flow” in Urban Rail Transit (71973009).
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Yang, R., Guo, X., Song, M. (2021). The Impact of Urban Rail Transit on Financing Constraints of Small and Medium-Sized Enterprises. In: Li, M., Bohács, G., Hua, G., Gong, D., Shang, X. (eds) IEIS 2020. Springer, Singapore. https://doi.org/10.1007/978-981-33-4363-4_5
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DOI: https://doi.org/10.1007/978-981-33-4363-4_5
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