外资企业的退出市场行为--经济发展还是劳动力市场价格管制?

On Foreign Firms’Exit——Economic Development or Labor Market Price Regulation?

本文利用我国制造业企业数据库,研究了地区经济发展与最低工资对外资企业退出市场行为的影响。估计结果显示,地区经济发展水平并不影响外资企业退出市场行为;而最低工资从25分位数提高至75分位数时,能解释样本期间外资企业退出概率平均值的20%。相比"市场导向型"外资企业,"成本导向型"外资企业更容易因为最低工资提高而退出市场:劳动密集度高、规模越大、平均工资低、所在行业低技能劳动力占比高、行业竞争激烈程度较高、产业配套条件较差的行业中的企业更容易受到最低工资上升的不利影响。

The effects of economic development and minimum wage policy on foreign firms’exit is studied,using the city-level panel data and firm-level data of China’s manufacturing firms from 2001 to 2009.Local economic development is found not to affect the exit of foreign manufacturing firms,while the increase of local minimum wage from the 25 percentile to 75 accounts for 20%of the variation of the mean exit rate of foreign manufacturing firms.Compared with“market-oriented”foreign firms,“cost saving oriented”foreign firms are more likely to go out of business owing to the rise of minimum wage.Firms in industries with high labor intensity,high export intensity,low average wages,a relatively high proportion of low-skilled labor in the industry,high industry competition,and poor industrial supporting conditions are more likely to be negatively affected by rising minimum wages.