产权保护与企业存续:来自制造业的证据

The Protection of Property Right and the Duration of Firms: Evidences from Manufacturing Industries

企业存续时间是产业组织研究中的重要问题,但从产权保护角度对我国企业存续时间进行的严格实证分析目前还非常缺乏。本文使用2008年我国全部国有及规模以上制造业企业数据,对此问题进行了初步探讨。我们的研究发现:(1)产权保护程度对企业的存续时间确实有很大影响,产权保护程度越高,该地区企业的平均存续时间越长;(2)产权保护对企业存续的影响作用在不同所有制企业间存在显著差别。特别地,加强产权保护能够显著延长私营企业的存续时间,但却减少了国有企业的存续时间。

The Firms' duration is an important issue in the research of the industrial organization, yet the strict empirical analyses of the time of the duration of China's firms, at present and in the view of the protection of property rights(POPR), are very deficient. By the use of the data, in the year of 2008, of the manufacturing enterprises, on both above-scale and all state-owned Chinese firms, we have made some primary analysis of this issue. By the results of our research we have discovered that(1) the degree of the POPR has, indeed, great impact on the time of the duration of firms; the greater the degree of the POPR, the longer the average time of the duration in firms in this region;(2) the effect of the POPR on firm's existence varies greatly among enterprises with different ownership. Specifically, strength ening the POPR can noticeably extend the duration time of private firms, but it reduces the duration of state-owned en terprises.