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| Research on the Influence of Enterprise Resource Allocation Strategy on Trade Credit Financing |
| PENG Aiwu，ZHANG Xinmin |
| 1.Hunan Institute of Science and Technology, Yueyang, Hunan，China; 2. Hunan University of Technology and Business, Changsha, China;3.University of International Business and Economic, Beijing, China；4.Beijing Research Base of enterprise internationalization, Beijing, China |
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Abstract Based on the samples of China’s A-share listed companies from 2007 to 2019, this study examines the impact of enterprise resource allocation strategy on trade credit financing. The empirical study finds that compared with investment-oriented enterprises, operation-oriented enterprises have stronger trade credit financing ability. Furthermore, we find that property rights and market position have significant moderating effects on the relationship between resource allocation strategy and trade credit financing. Earnings persistence (information transparency) plays a partial mediating (masking) role in the impact of resource allocation strategy on trade credit financing.
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Received: 24 April 2021
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