Author(s)

Luyang Liu

Corresponding Author

Luyang Liu

ABSTRACT

in Recent Years, Some Scholars Have Changed the Perspective of Studying Financial Development and Economic Growth from Macro to Micro, and Have Begun to Investigate the Impact of Financial Development on Corporate Financing Constraints, and Have Achieved Relatively Rich Research Results. China's Financial Market is Not Yet Developed, and the Level of Development of Financial Markets in Different Regions Varies Greatly, So the Level of Financing Constraints among Companies in Different Regions Also Varies. Theoretically, Financial Development Can Reduce the Degree of Corporate Financing Constraints by Optimizing the External Financing of Enterprises, While the Performance of Enterprises as Microeconomic Entities Directly Affects Economic Growth. Therefore, It is of Great Significance to Study the Relationship between Financial Development, Financial Constraints and Corporate Performance. It is Found That Fdi Has No Significant Promoting Effect on China's Independent Innovation, But There is a “Double Threshold Effect” Based on the Degree of Financial Development. This Paper Analyzes the Impact of Fdi Technology Spillover on China's Independent Innovation from the Perspective of Financial Development.

KEYWORDS

Financing Constraints, Fdi, Transnational Corporations, Company Performance