广东省企业活力的现状及对策分析

A Study on the Vitality of Enterprises in Guangdong Province:Current Status and Countermeasures

作为实体经济发展的主体,企业在城市升级过程中的作用尤为重要。利用广东省2003—2018年568家上市公司的年度财务数据,测算了广东省的企业活力,并从企业、行业、地区及政策多个维度对广东省企业活力的影响因素作了深入分析。研究结果表明:①总体来看,广东省企业活力值近年来正稳步上升;②具体来看,外资企业和民营企业活力值优于国有企业,第二和第三产业的活力值高于第一产业,珠三角9市的企业活力状况显著优于其他城市;③从影响因素来看,企业的发展能力/盈利能力及规模均对企业活力有促进作用,但其风险水平则会负向影响其活力;④地区经济发展与财政支出均对企业活力有积极影响,粤港澳大湾区建设的政策显著提高了区域内的企业活力。

As the main body of real economic development,enterprises are of particular significancein the process of urban upgrading.Based on a sample of listed companies registered from 2003 to 2018,this paper measures the vitalityof enterprises in Guangdongprovince.Influencing factors on enterprise vitality are deeply examined fromvarious aspects,such as firm,industry,region and policy.Results show that thevitalityof enterprises in Guangdong province has been growingsteadily in recent years.Foreign companies and non-state-owned companies,companies in second and thirdindustries,as well as companies in the Pearl River Delta significantly outperform others.The growing potential,profitability and size of an enterprise are helpful to improve itsvitality,while the risk level of an enterprise has a negative impact.The economic developmentand fiscal expenditure of a city also help to achieve a higher level of enterprise vitality.More importantly,the initiation and construction of Guangdong-Hong Kong-Macao Greater Bay Area significantly strengthens the vitality of enterprises in this area.