市场准入负面清单制度与企业全要素生产率

Negative List System of Market Access and Total Factor Productivity of Enterprises

以2012—2018年我国A股上市公司为样本,考察市场准入负面清单制度对企业全要素生产率的影响。研究发现,市场准入负面清单制度显著促进了企业全要素生产率的提升,且该结论在经过一系列稳健性测试后仍然成立。作用机制检验结果表明,市场准入负面清单制度通过增加企业研发创新投入和人力资本投入提升了全要素生产率。异质性分析显示,当企业所处地区政府干预程度较高以及市场竞争较激烈时,市场准入负面清单制度对企业全要素生产率的促进效应更明显。经济后果研究发现,在市场准入管制放松的背景下,全要素生产率的提升可以显著改善企业产品市场表现。

By using the data of China's A-share listed companies from 2012 to 2018,this paper examines the impact of negative list for market access on total factor productivity of enterprises.The study shows that the negative list for market access has significantly promoted the improvement of total factor productivity,and the above conclusion is still valid after the robustness test.The mechanism research shows that the negative list system can improve the total factor productivity by increasing the R&D investment and human capital.The heterogeneity analysis shows that enterprises with more government intervention and higher market competition are more affected by the negative list system for market access.The economic consequence analysis finds that in the face of deregulation of market access,the improvement of total factor productivity can optimize the market performance of enterprises'products.