经济集聚对企业补贴的影响研究——基于企业贡献度视角的分析

Research on the Influence of Economic Agglomeration on Enterprise Subsidies——Analysis Based on the Perspective of Enterprise Contribution

本文以城市群为考察对象,通过构建双重差分模型和使用我国沪深两市A股上市公司2007—2021年的微观面板数据,实证分析经济集聚对企业获得政府补贴的影响,从企业贡献度视角解释经济集聚下企业获得补贴“不降反升”的现象。研究发现,经济集聚能够显著提高企业获得的政府补贴。机制检验发现,经济集聚通过提高企业的经济贡献度、财政收入贡献度和就业贡献度增加企业获得的政府补贴。异质性检验发现,经济集聚对企业获得政府补贴的作用受到企业所有制、企业所处地理区域以及企业年龄的影响。基于研究结论,本文从规范地方政府对企业的补贴行为,推动构建“亲”“清”政商关系,提高补贴资金的使用效率和促进地区间的协调均衡发展以及公平市场环境建设等方面提出相关的政策建议。

Taking urban agglomeration as the object of investigation,this paper uses the panel data of A-share listed companies in Shanghai and Shenzhen from 2007 to 2021 to analyze the impact of economic agglomeration on enterprise subsidies by using the difference-in-differences model,and explains the phenomenon of increasing enterprise subsidies under economic agglomeration from the perspective of enterprise contribution.It is found that economic agglomeration can significantly improve the government subsidies obtained by enterprises.The mechanism test shows that economic agglomeration can increase the government subsidies obtained by enterprises by improving their economic contribution,financial revenue contribution and employment contribution.The heterogeneity test shows that the effect of economic agglomeration on enterprise subsidies is affected by the ownership of enterprises,the geographical region of enterprises and the age of enterprises.Based on the research conclusions,this paper puts forward relevant policy suggestions from the aspects of regulating the subsidy behavior of local governments to enterprises,promoting the establishment of a pro-clean relationship between government and business,improving the efficiency of the use of subsidy funds,promoting the coordinated and balanced development among regions and the construction of a fair market environment.