地方政府土地开发行为模式会影响企业绩效吗

Does Local Governments' Land Development Mode Affect Enterprises' Performance

政府投资是地方政府塑造土地开发行为模式的基础,它对企业绩效具有正负两种影响路径,在切除基础设施的传导路径后,政府投资对工业企业绩效具有明显制约作用,尤其对融资需求较大的工业企业制约效应更强。通过分层线性回归模型和面板分位数回归模型研究发现,地方政府土地开发行为显著制约企业绩效的提升。地方政府土地开发行为对经营效益好的工业企业负面效应大于经营效益差的企业,对沿海地区、非国有企业或资本、技术密集型的企业绩效制约作用大于非同类工业企业。鉴于土地依赖型经济增长的潜在风险不断累积,扭转地方政府土地开发行为模式已经刻不容缓。

Local governments＇ behavior of land development weakens the sustainable development abilities. Based on the Hierarchical Model and Quandle Regression Model, the behavior of land development significantly restricts finns＇ performance. Moreover, the behavior does harm the firms of good performance more than the bad firms; it has more negative influence on coastal enterprises, non state- owned enterprises and technology- in- tensive enterprise than counterparts. Local governmental investment builds the pattern of land development which has positive and negative two kinds of effects. Apart from the effect of infrastructure construction, Finn perfor- mance is restricted by gavemment investment which has more negative effect on finns with the worst and the best performance. In consideration of land - dependent economic growth accumulates more and more potential risks, it is urgent to reverse the behavioral pattern of land development.