高铁开通与企业客户空间分布——基于上市公司与异地客户分布范围的视角

The Opening of High-Speed Railway and the Spatial Distribution of Enterprise Customers--Based on the Perspective of Listed Companies and Regional Customers Distribution

畅通企业间贸易渠道是推动区域协调发展的重要途径。而高铁开通促进企业间生产要素的跨区域流动,进而降低企业的运输成本和交易成本,对企业间贸易起到促进效应。基于上市公司与异地客户贸易区位视角,采用2008-2019年3222个上市公司异地客户的面板数据,利用中国高铁开通的“准自然实验”,研究了上市公司与异地客户分布范围对市场一体化的促进效应。结果显示:第一,高铁开通后,上市公司的异地客户分布愈加广阔;第二,高铁开通后,带动了上市公司交易成本下降效应与运输成本节约效应;第三,高铁开通带动了上市公司市场规模扩大效应。建议通过在中西部地区构建更加完善的高铁网络,用以增加企业贸易频率,提升我国市场一体化水平。

Smooth trade channel between enterprises is an important way to promote regional coordinated development.The opening of high-speed railway strengthens the trans-regional flow of production factors between enterprises,thus reducing the transportation and transaction costs of enterprises,which promotes the inter-enterprise trade.Based on the perspective of listed companies and trade location of regional customers,this paper uses the panel data of 3222 regional customers of listed companies from 2008 to 2019 and makes use of the“quasi-natural experiment”of the opening of China’s high-speed railway to study the listed companies and regional customers distribution,as well as their promoting effect on market integration.The results show:first,after the opening of high-speed railway,the regional customers of listed companies are more widely distributed;second,the opening of high-speed railway brings the transaction cost reduction effect and transportation cost saving effect of listed companies;third,the opening of high-speed railway leads to the market expansion effect of listed companies.It is suggested to build a more perfect high-speed railway network in central and western regions,which can enhance the trade between enterprises and promote market integration in China.