交易环境、企业绩效与政府干预波及

Transaction Environment, Corporate Performance and Government Intervention

采用新实证产业组织理论最前沿的ACF非参数模型架构,估计了企业的全要素生产率,同时利用近期DLW方法计算了企业的经济利润率。在此基础上,构建微观架构模型验证了县一级区域政府干预对本地交易环境和微观企业绩效的直接影响。微观计量结果证实,政府干预对微观企业绩效有稳健且显著的直接负面影响。同时,"政府干预→本地交易环境恶化→企业绩效降低"这一间接传导机制被证实存在,政府干预越强的地方,当地的交易环境越差,导致企业全要素生产率和经济利润率降低。

This paper uses the ACF nonparametric model framework of the new empirical industrial organization theory to estimate the total factor productivity of enterprises, and uses the DLW method to calculate the economic profit rate. On this basis, the micro structure model is constructed to verify the direct impact of county level local government intervention on local transaction environment and micro enterprise performance. The results show that government intervention has a direct and negative impact on the performance of micro enterprises. At the same time, ＂the local government intervention, the deterioration of the environment, reduce the transaction performance＂ the indirect transmission mechanism is proved to exist, government intervention is strong, the local trading environment is poor, leading enterprises total factor productivity and economic profit margins.