This study examines the impact of state participation on the alleviation of financing constraints faced by private Chinese enterprises. The analysis is based on data collected from a sample of 2,256 p
Based on 2010–2019 Chinese logistics listed companies as research samples, the paper used the binary Logit model measuring degree of financing constraints. The Kernel density function and Markov chain
Digital infrastructure serves as a cornerstone of urban digital transformation and smart city development, yet its implications for local fiscal systems and micro-level enterprises remain underexplore
