行政垄断加剧了企业生存风险吗?

Dose Administrative Monopoly Aggravate the Survival Risk of Chinese Enterprises?

在转型升级的关键阶段,定量地评价行政垄断与企业战略选择之间的关系,对推动《公平竞争审查制度》的理论与实践探索以及改善企业生存的制度环境都具有重要意义。但既有研究中,行政垄断的政策效应分析较少深入到微观企业层面,特别是从企业生存的视角来进行的评估。文章采用PSM-Cox比例风险模型,以企业微观数据首次检验了行政垄断对企业生存风险的影响效应及其机制。研究表明,行政垄断对制造业企业的生存风险产生了显著效应,即以行政垄断为代表的政府干预会加剧企业生存风险。同时,行政垄断对不同所有制、地区及行业的企业的影响存在异质性,会显著加剧非国有企业、中西部地区企业及劳动密集型行业企业的生存风险。而行政垄断对企业生产率、企业创新与寻租行为所产生的效应或许是本文总体结论的重要解释。

In June 2016,the publication of the‘Opinions of the State Council on Establishing a Fair Competition Review System during the Development of Market-oriented Review System＇,（hereinafter referred to as‘Fair Competition Review System＇）,marks a new stage of the anti-monopoly cause in China.The determination and strength of this economic restructuring is unprecedented.At the critical stage of transformation and upgrading,administrative monopoly may lead to short-term business dilemma of enterprises with high efficiency that are just found but have no growth,and the survival of enterprises with low efficiency in a market environment with distorted entry and exit mechanisms.The quantitative evaluation of the relationship between administrative monopoly and enterprise strategy choice is of great importance to the promotion of the theory and practice exploration of‘Fair Competition Review System＇and the improvement of institutional environment concerning enterprise survival.But the analysis of policy effect of administrative monopoly rarely goes deep into micro-firm level,especially in the view of enterprise survival.This paper uses PSM-Cox proportional hazard model to examine the effect of administrative monopoly on enterprise survival risk and its mechanism at micro-firm level.Our results indicate that in general,administrative monopoly has positive policy impact on the survival risk of manufacturing enterprises,i.e.government intervention represented by administrative monopoly aggravates the survival risk of enterprises.Furthermore,the effects of administrative monopoly on the survival risk of heterogeneous enterprises differ somewhat：firstly,administrative monopoly does not have significant effect on the survival risk of state-owned enterprises,but has significant effect on non-state-owned enterprises;secondly,administrative monopoly has significant positive effect on the survival risk of enterprises in mid-west China,but does not have significant effect in East China;administrative monopoly is positively correlated with the survival risk of labor-intensive enterprises,but does not have significant effect on capital-intensive and technology-intensive industries.Administrative monopoly raises the survival risk of enterprises by reducing survival rate and innovation,and really results in rent-seeking activities which weaken the effect of administrative monopoly on the survival risk of enterprises to some extent.And the joint effect of these three above provides an important explanation for the foregoing study.As for supply-side structural reform,the elimination of administrative monopoly through the competition policy,can improve the resource allocation efficiency in Chinese market,thereby creating a favorable supply-side institutional environment for enterprise survival and economic development.As for the development of small and medium-sized enterprises,the construction of a sound competition policy system,can strengthen the viability of nonstate-owned enterprises,enterprises in mid-west China and labor-intensive enterprises,and offers systematic and mechanism support for the‘mass entrepreneurship＇.The competition policy system focusing on‘Fair Competition Review System＇is gradually being completed,and the development of socialist market economic system is bound to enter a new stage.