资本周转·经济不确定与畜牧企业成长——以10家上市畜牧企业为例

Capital Turnover,Economic Uncertainty and the Growth of Animal Husbandry Enterprises—Taking 10 Listed Animal Husbandry Enterprises as an Example

科学评估在政策频繁更替下畜牧业发展现状及问题对于制定正确的政策促进畜牧业可持续发展具有重要意义。通过构建畜牧企业资本周转综合指数,以2014—2021年上市畜牧企业为例,建立双重固定效应模型考察企业资本周转对畜牧企业高水平发展的影响。结果表明:2014—2021年畜牧企业发展态势较弱、企业资本周转综合指数呈现波动下降趋势;企业资本周转效率的提升能够显著促进畜牧企业发展;在经济不确定加剧情况下,短期内会显著抑制其促进作用,而在长期下抑制效果有所缓和。这一结论可为畜牧企业现代化转型,畜牧业稳定发展提供有益参考。

Scientific assessment of the current situation and problems of animal husbandry development under frequent policy changes is of great significance for formulating correct policies to promote sustainable development of animal husbandry.In this paper,by building a comprehensive index of capital turnover of animal husbandry enterprises,taking listed animal husbandry enterprises from^(2)014 to 2021 as an example,a double fixed effect model is established to investigate the impact of enterprise capital turnover on the high-level development of animal husbandry enterprises.It is found that from^(2)014 to 2021,the development trend of animal husbandry enterprises is weak,and the comprehensive index of enterprise capital turnover shows a downward trend of fluctuation;the improvement of capital turnover efficiency can significantly promote the development of animal husbandry enterprises;in the case of increased economic uncertainty,the promotion effect will be significantly inhibited in the short term,while the inhibition effect will be eased in the long term.The conclusion of this paper provides a useful reference for the modernization transformation of animal husbandry enterprises and the stable development of animal husbandry.