自主可控提升军民融合企业的全要素生产率吗?——基于信息产业上市公司的研究

Does Autonomous-Controllable Policy Promote TFP of Civil-Military Integration Enterprises: Evidence from China’s Listed IT Companies

运用OLS、OP、LP三种方法对2011-2017年55家信息产业军民融合上市公司的全要素生产率(TFP)进行测算,并用DID、PSM-DID等多种方法对自主可控政策与企业TFP的关系进行检验,实证结果表明:(1)军民融合企业的TFP整体上呈波动上升趋势,由2011-2012年低于其他企业发展至2017年略高于其他企业,但整体差异不大;(2)2014年以来逐渐加强的自主可控政策对于军民融合企业的TFP提升并没有显著影响,而是显著提升了企业的总市值,从而表明现阶段自主可控政策对于企业发展的深层次影响尚未完全体现。

This paper uses OLS, OP and LP methods to measure the total factor productivity (TFP) of 55 civil - military integration listed IT companies in 2011-2017 , and uses DID and PSM - DID methods to test the effects of Autonomous - Controllable Policy on TFP. The empirical results show that:(1 ) The TFP of civil- military integration enterprises has fluctuated upward, which has exceeded other enterprises slightly.(2) The Autonomous - Controllable Policysince 2014 has not significantly affected the TFP of civil - military integration enterprises, but has significantly increased the total market value of them, indicating that the deep - seated impact of the policy has not yet fully reflected.