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基于中国制造业企业8位数产品编码出口数据,可从微观层面分析出口产品多样化对出口企业业绩的影响。结果表明,在低研发密度行业中,出口产品多样化对出口企业业绩的促进效应有限,出口产品多样化与出口企业业绩之间呈现出显著的倒U型关系;在高研发密度行业中,出口产品多样化对出口企业业绩具有显著的促进效应。进一步分析表明,融资约束的缓解能够增强出口产品多样化对出口企业业绩的促进效应,这一效应在高研发密度行业中更为显著。
Based on the 8-digit product code export data of Chinese manufacturing enterprises, the impact of the diversification of export products on the performance of export enterprises can be analyzed from the micro level. The results show that in the low R & D density industry, the diversification of export products has a limited effect on the performance of export enterprises, and there is a significant inverted U-shaped relationship between the diversification of export products and the performance of export enterprises. In industries with high R & D densities, exports Product diversification has a significant promoting effect on the performance of export enterprises. Further analysis shows that the mitigation of financing constraints can enhance the promotion effect of the diversification of export products on the performance of export enterprises, which is more obvious in the industries with high R & D intensity.