Abstract
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 model are used to forecast China listed companies financing logistics dynamic constraints and business performance growth. Furthermore the stock of knowledge was chosen as a threshold variable to explore the impact of financing constraints on corporate performance growth of listed logistics enterprises. We find that the degree of financing constraints of logistics enterprises in our country has not been significantly eased. Corporate performance has not changed significantly and there are no obvious spatial gap and polarization with the passage of time. The impact of financing constraints on the corporate performance growth of logistics enterprises in China has a double threshold effect of knowledge stock, and has an inhibitory effect that first increases and then decreases. This is because in the short term, the investment of knowledge stock by enterprises can crowd out more corporate liquidity, and in the long run, it is related to the conversion rate of the knowledge stock itself. Because of the uneven regional distribution of resources and differences in the degree of economic development, there is a growing disincentive effect in central China as the stock of knowledge accumulates.