城市品牌活动与企业经营绩效——来自马拉松赛事的准自然实验

City Brand Activities and Enterprise Operating Performance:A Quasi-natural Experiment from Marathon Events

城市品牌是辖区内微观企业拥有的重要资源,大型体育赛事在城市品牌建设方面所起的作用举足轻重。以2008—2019年中国各城市举办马拉松赛事作为城市品牌活动的准自然实验,基于双重差分模型的实证结果表明,马拉松赛事显著促进了举办地企业经营绩效的提升;进一步分析发现,马拉松赛事的积极影响在城市层级、经济开放度以及企业规模、融资约束、行业关联度、赛事规模和规格等方面存在异质性。在此基础上重点验证了马拉松赛事通过优化企业外部营商环境以及降低企业交易成本积极作用于企业经营绩效的传导路径。本研究为城市品牌对企业经营绩效的影响提供了新的微观证据,研究结论对于城市发展与企业成长的相互赋能、协同发展具有启示意义。

City brand is an important resource owned by micro-enterprises within the jurisdiction,while large-scale sports events play a pivotal role in city brand building.A quasi-natural experiment is conducted based on marathon events held for city brand activities in various cities in China from 2008 to 2019.The empirical results based on difference-in-differences model show that marathon events have significantly promoted the improvement of the performance of enterprise.Further analysis indicates that the positive impact of marathon events has heterogeneity in city levels,economic openness,corporate scale,financing constraints,industry correlation,competition scale and specifications.On this basis,it focuses on verifying the pathway of marathon by optimizing the external business environment of the enterprise and reducing the corporate transaction costs to improve business performance of enterprises.This study provides new micro-evidence for understanding the impact of city brands on corporate operating performance.The findings are instructive to realize the mutual empowerment and coordinated development of city development and corporate growth.