中国发起反倾销调查能提高上市公司企业价值吗?

Can China’s Anti-dumping Investigations Improve the Corporate Value of Listed Companies?

反倾销措施能应对国际贸易摩擦,对外反倾销会影响中国涉案上市公司企业价值,通过虚拟变量法的实证研究可以进行定量反映。回归结果显示:商务部的反倾销立案调查对企业价值有正面影响;肯定性初裁结果的正向影响比否定性结果显著;反倾销调查存在持续性效应,在反倾销立案调查后的4年内对企业价值的影响由显著的正向影响转变为显著的负向影响。反倾销调查与中国上市公司企业价值的关联为中国保护本国企业正当利益提供了思路。

Anti-dumping measures can cope with the international trade friction,and China’s anti-dumping investigations may affect the corporate value of listed companies.This issue can be quantitatively reflected by the empirical research of virtual variable method.The regression results show that antidumping investigations of the Ministry of Commerce have a positive effect on corporate value;Affirmative preliminary results are more significant than the negative;Anti-dumping investigations have a continuing effect on corporate value,which has been changed from a significant positive effect to a significant negative effect within four years after the initiation of anti-dumping investigation.The correlation between anti-dumping investigation and corporate value provides ideas for China to protect the legitimate interests of domestic companies.