绿色贸易壁垒与出口企业投资效率实证研究——以制造业A股上市公司数据为基础

An Empirical Study on Green Trade Barriers and Investment Efficiency of Export Enterprises:Based on the Data of A-Share Listed Companies for Manufacturing

近年来,我国出口企业受到发达国家绿色贸易壁垒的影响,出口总额增长缓慢。为达到“壁垒”标准,出口企业进行了绿色转型,企业绿色转型过程中所付出的成本代价与相应的收益之间的关系可通过投资效率来衡量。通过对45家出口企业进行实证分析发现:在短期绿色贸易壁垒阻碍了企业的投资效率,而随着时间的延长,绿色贸易壁垒对企业投资效率的阻碍作用逐渐减小;出口企业在一类出口市场的投资效率低于在二类出口市场的,且在一类出口市场中多表现为投资过度,在二类出口市场中多表现为投资不足;国有出口企业的投资效率低于非国有出口企业的。

In recent years, China’s export enterprises are affected by the green trade barriers of developed countries, and the total export shows a slow growth. In order to reach the standard of this “barrier”, export enterprises have made certain green transitions. The relationship between the cost and the corresponding income during the process of green transition can be measured by the investment efficiency. Based on the empirical analysis of 45 export enterprises, it is found that in the short term, green trade barriers hinder the investment efficiency of the enterprises, and with the increase of time, the barrier effect of green trade barriers on the investment efficiency of enterprises decreases gradually. In addition, export enterprises show lower investment efficiency in A-class export markets than in B-class export markets, and tend to pay an over investment in A-class export markets, and show a lack of investment in B-class export markets. The investment efficiency of state-owned export enterprises is lower than that of non-state-owned export enterprises.