2017-07-012024-05-17https://scholars.lib.ntu.edu.tw/handle/123456789/674362摘要：有越來越多的文獻指出，運作不佳的金融機構阻礙了國家的國際貿易活動和扭曲了貿易流量的組成。然而，在將多種產品出口到多個目的地的企業模式中，融資限制的作用尚未被廣泛且明確的考慮。這篇研究試圖透過研究公司產品及目的地多樣化來獲得融資限制的作用，以填補文獻中缺少的部分。使用台灣出口商的詳細出口資料及融資限制，本篇研究首次針對台灣出口商的出口產品和目的地多樣化的融資限制的作用進行調查。調查發現融資限制與使產品及目的地多樣化的限制能力有關。換句話說，融資限制程度越高的企業，出口的產品範圍越窄，且出口到較少的目的地。它也揭示了這種效果是非線性的，並且取決於融資限制的程度。這篇研究豐富了我們瞭解融資限制影響整體出口表現的管道。<br> Abstract: A growing body of literature has shown that poorly functioning financial institutions impede countries’ international trade activity and distort the sectoral composition of trade flows. However, the role of financial constraints has not been widely and explicitly considered in models of multi-product and multi-destination firms. This study attempts to fill this gap in the literature by examining the role of firms’ access to external finance in both product and destination diversification. Using detailed data on export transactions and financial constraints of Taiwanese exporters, this paper investigates for the first time the effect of financial constraints on the variation in product and destination diversification of exports in Taiwan. It finds that financial constraints are associated with a restricted ability to diversify products and destinations. In other words, firms with a higher degree of financial constraints export a narrower range of goods and they export to a smaller number of destination countries. It also reveals that such effects are nonlinear and dependent upon the degree of financial constraints. This study enriches our understanding of the channel through which financial constraints can influence overall export performance.融資限制產品多樣化目的地多樣化Financial constraintsProduct diversificationDestination diversification