基于中国工业企业数据库,采用PSM方法研究了中国工业企业是否存在出口融资约束的自选择效应,以及出口后是否获得融资约束的溢价效应,结果发现,出口企业以中小型、民营和中低技术企业为主,出口前所受的融资约束普遍高于非出口企业,出口可能是此类企业缓解融资约束的替代选择,自选择效应不存在;企业出口后由于规模和业务扩张,并没有显著改善其融资约束状况,溢价效应也不存在。 Based on China’s industrial enterprise database, the PSM method is used to study the self-selection effect of export financing constraint on Chinese industrial enterprises and the premium effect of whether or not to obtain financing constraints after export. The results show that export enterprises are small and medium-sized, private and low-tech enterprises The main reason is that the pre-export financing constraints are generally higher than those of non-exporting enterprises. Exporting may be an alternative for such enterprises to ease the financing constraints, and the self-selection effect does not exist. After exporting, due to its scale and business expansion, the export of its products has not significantly improved Financing constraints, the premium effect does not exist.