中国上市建筑企业规模经济和范围经济评价——一种随机边界成本函数方法

Measuring Economies of Scale and Scope in China Listed Construction Company:A Stochastic Frontier Cost Function Approach

目前对于企业规模经济和范围经济的研究大多数是在不存在X无效的假设下进行的。即认为企业始终是在它们的有效边界内的,因此对企业规模经济和范围经济的实证研究也都是X有效的前提下的。本文试图采用一种成本非有效的随机边界成本函数,建立广义超越对数成本函数模型对企业规模经济和范围经济进行评价。数据来源于深沪两市建筑业板块25家上市公司2003-2007年的年度报告。研究结果表明:我国上市建筑企业中同时存在着规模不经济和范围不经济,而不存在X无效性假设条件下的估计结果使得规模经济值被提高。

Most studies on economies of scale and scope in corporations assume no x-inefficiencies. That is,corporations are assumed to be always on their efficient frontier,which can in empirical studies confound economies of scale and scope with x-efficiencies.This paper adopts a stochastic frontier cost function with cost inefficiencies,established the generalized translog cost function to estimate the economies of scale and scope.The data come from 25 listed construction companies in SHANGHAI STOCK EXCHANGE and SHENZHEN STOCK EXCHANG form 2003-2007.The results suggest that there both exists diseconomies of scale and scope,and that the assumption of no x-inefficiencies results in overrating such economies.