Does geographic distance have a significant impact on enterprise financing costs?

doi:10.1007/s11442-019-1699-6

	Does geographic distance have a significant impact on enterprise financing costs?
	Sun, Wei 1,3; Li, Qihang 4; Li, Bo 2,3
刊名	JOURNAL OF GEOGRAPHICAL SCIENCES
	2019-12-01
卷号	29 期号:12 页码:1965-1980
关键词	financial geography enterprise financing geographic distance Beijing-Tianjin-Hebei
ISSN号	1009-637X
DOI	10.1007/s11442-019-1699-6
通讯作者	Li, Bo(mg2011818@126.com)
英文摘要	As information technology has been applied more broadly and transportation infrastructure has improved, persistent debate has existed as to the question of whether geographic distance influences enterprise financing costs (EFCs). Through mining big data regarding industrial enterprises and commercial bank branches (CBBs) in the Bei-jing-Tianjin-Hebei region, this paper conducts quantitative analysis of correlation between the EFCs and their distance to CBBs as well as the number of CBBs within a 1-5 km radius, and investigates how geographic factors affect EFCs. The results indicate the following: (1) In overall terms, the shorter the distance to CBBs and the greater the number of CBBs within a 1-5 km radius, the lower the EFCs. (2) Distance to CBBs and number of CBBs within a 1-5 km radius significantly influence state-owned and non-state-owned enterprises, with the effect on non-state-owned enterprises being more pronounced. (3) The EFCs in Beijing and Tianjin are not correlated with distance to CBBs, and negatively correlated to the number of CBBs within a 1-5 km radius; the EFCs in Hebei Province are positively correlated with distance to CBBs, and negatively correlated with the number of CBBs within a 1-5 km radius. (4) Distance to CBBs has a more significant impact on enterprises engaged in heavy industry and labor-intensive industries, while there is not much difference between different industries in terms of how the number of CBBs within a 1-5 km radius affects them.
资助项目	Chinese Academy of Sciences[XDA19040401] ; Youth Fund for Humanities and Social Sciences of the Ministry of Education of China[16YJCZH040] ; Youth Fund for Humanities and Social Sciences of the Ministry of Education of China[14YJCZH078] ; National Natural Science Foundation of China[41571117] ; National Natural Science Foundation of China[41871117] ; Social Science Foundation of Beijing[14CSB010] ; Shandong Taishan Scholar Youth Expert Support Program
WOS关键词	INFORMATION
WOS研究方向	Physical Geography
语种	英语
出版者	SCIENCE PRESS
WOS记录号	WOS:000513451100002
资助机构	Chinese Academy of Sciences ; Youth Fund for Humanities and Social Sciences of the Ministry of Education of China ; National Natural Science Foundation of China ; Social Science Foundation of Beijing ; Shandong Taishan Scholar Youth Expert Support Program
内容类型	期刊论文
源URL	[http://ir.igsnrr.ac.cn/handle/311030/132231]
专题	中国科学院地理科学与资源研究所
通讯作者	Li, Bo
作者单位	1.UCAS, Coll Resources & Environm, Beijing 100049, Peoples R China 2.Tianjin Univ Technol, Int Coll Business & Technol, Tianjin 300384, Peoples R China 3.Chinese Acad Sci, Inst Geog Sci & Nat Resources Res, Beijing 100101, Peoples R China 4.Shandong Univ Finance & Econ, Jinan 250014, Peoples R China
推荐引用方式 GB/T 7714	Sun, Wei,Li, Qihang,Li, Bo. Does geographic distance have a significant impact on enterprise financing costs?[J]. JOURNAL OF GEOGRAPHICAL SCIENCES,2019,29(12):1965-1980.
APA	Sun, Wei,Li, Qihang,&Li, Bo.(2019).Does geographic distance have a significant impact on enterprise financing costs?.JOURNAL OF GEOGRAPHICAL SCIENCES,29(12),1965-1980.
MLA	Sun, Wei,et al."Does geographic distance have a significant impact on enterprise financing costs?".JOURNAL OF GEOGRAPHICAL SCIENCES 29.12(2019):1965-1980.