外资竞争、产业关联与中国本土企业的市场存活

Foreign Competition,Industrial Linkage and Domestic Firms' Survival in China

大规模外资涌入不可避免地挤占了本土企业的生存空间。基于2000—2007年中国微观企业数据,本文首次采用生存模型考察了外资进入对中国本土企业的存活期限与退出行为的影响。研究表明,虽然外资企业加剧了行业内竞争,从而迫使同行业内资企业更快退出,但也通过与当地企业构建上、下游产业关联,为内资企业创造了新的存活机会与市场空间。这一作用也决定了外资进入对内资企业存活的竞争冲击并不如普遍预期的剧烈。与国有企业相比,民营企业更有可能与外资企业建立产业关联,从而较好地适应外资冲击。本研究不仅为客观评价外资进入的生存冲击提供了经验证据,也对东道国本土企业积极应对外资竞争、融入全球化分工网络具有借鉴意义。

The influx of foreign investment inevitably forces China＇s domestic firms to exit, and hence decreases the survival probability of the latter. Using Chinese manufacturing firms＇ data during 2000—2007, we adopt the survival analysis to examine the effect of foreign entry on the survival of Chinese domestic firms. We find that although foreign firms do propel more domestic firms to exit among the same industry through the competition effect, they also help to promote the survival of the local firms through both backward and forward industrial linkages. As we estimate a significantly positive combined effect, it indicates the external shock due to foreign entry is not as big as we usually expect. Compared with SOEs, Chinese private firms are more likely to establish vertical industrial linkages with foreign-invested firms. Generally our findings provide evidence and policy suggestions on how local firms in developing economies adapt themselves to market competition due to foreign entry.