Based on China's industrial enterprises-customs matched data, this paper utilizes two-tier stochastic frontier analysis method to estimate and verify the extent to which selection effect and competition effect inf...Based on China's industrial enterprises-customs matched data, this paper utilizes two-tier stochastic frontier analysis method to estimate and verify the extent to which selection effect and competition effect influence exporting firms' markup. Our findings suggest that the interaction between selection effect and competition effect ultimately causes actual firm markup to be higher than the baseline markup by 7.11%. Exporting firms' actual markup is higher than the baseline markup by different degrees. In terms of the decomposition of selection effect, TFP explains for 28.05% of selection effect, and nonproductivity factors explain for the rest 71.95%. By controlling for the type of firms' export,the export-productivity paradox only exists for processing trade firms, which shows that with increasing trade facilitation, the policy incentives to encourage firms to export are major contributors to the low export markups.展开更多
In this paper,digital transformation is included in the heterogeneity model of firms.Based on a general equilibrium analysis,we find that under the effect of diminishing marginal productivity,digital transformation do...In this paper,digital transformation is included in the heterogeneity model of firms.Based on a general equilibrium analysis,we find that under the effect of diminishing marginal productivity,digital transformation does not always have a positive impact on firms'markups,but has an"inverted U-shaped"nonlinear influence,which first promotes and then inhibits markups.Firm innovation and firm productivity are the key micro-mechanisms for the above effects to play a role.Based on the analysis of typical facts and empirical data of listed companies,the measurement test yields the following results.First,digital transformation can significantly improve firms'markups when it is below a specific threshold value,but it will have a negative impact when it exceeds this value.That is,there is an"inverted U-shaped"nonlinear relationship between digital transformation and firms'markups.Second,the heterogeneity analysis shows that digital transformation has a greater effect on the markups of state-owned firms,export firms and technology-intensive firms than on the markups of other firms.Third,digital transformation has an impact on firms'markups through two key mechanisms:firm innovation ability and production eficiency.The quantitative empirical results confirm the correctness of the theoretical expectations.Therefore,firms need to grasp the strategic opportunities brought by the progress of digital technology and accelerate the process of promoting the digital transformation.Firms should make proper choices in the selection and arrangement of key areas,as well as avoid possible problems such as"too much".In this way,we can better consolidate the micro foundation of China's high-quality economic development.展开更多
Using Chinese microdata from 2000 to 2013,we document how demand shocks in export markets lead multi-product exporters to adjust markups across products.We find that,in response to positive demand shocks,quality-based...Using Chinese microdata from 2000 to 2013,we document how demand shocks in export markets lead multi-product exporters to adjust markups across products.We find that,in response to positive demand shocks,quality-based competitive multi-product firms increase product markups significantly,particularly for core products,whereas cost-based competitive multi-product firms respond by reducing product markups.The reason for this is that positive foreign demand affects markups through two opposite channels:pro-innovative effects and pro-competitive ejfects.Pro-innovative effects are predominant among quality-based competitive multi-product firms,and these firms respond to positive foreign demand shocks by increasing product quality,prices,and markups.Pro-competitive ejfects are predominant among cost-based competitive multi-product firms,and these firms respond to positive foreign demand shocks by lowering product cost,prices,and markups.We demonstrate the presence of these mechanisms empirically.The results imply that firms with different competition strategies should adopt different measures in response to foreign demand shocks.展开更多
Multidatabase systems are designed to achieve schema integration and data interoperation among distributed and heterogeneous database systems. But data model heterogeneity and schema heterogeneity make this a challeng...Multidatabase systems are designed to achieve schema integration and data interoperation among distributed and heterogeneous database systems. But data model heterogeneity and schema heterogeneity make this a challenging task. A multidatabase common data model is firstly introduced based on XML, named XML-based Integration Data Model (XIDM), which is suitable for integrating different types of schemas. Then an approach of schema mappings based on XIDM in multidatabase systems has been presented. The mappings include global mappings, dealing with horizontal and vertical partitioning between global schemas and export schemas, and local mappings, processing the transformation between export schemas and local schemas. Finally, the illustration and implementation of schema mappings in a multidatabase prototype - Panorama system are also discussed. The implementation results demonstrate that the XIDM is an efficient model for managing multiple heterogeneous data sources and the approaches of schema mapping based on XIDM behave very well when integrating relational, object-oriented database systems and other file systems.展开更多
基金Sponsorship of the National Social Science Foundation (NSSF) Youth Project (16CJL014)the China Postdoctoral Science Special Foundation (2017T100001)
文摘Based on China's industrial enterprises-customs matched data, this paper utilizes two-tier stochastic frontier analysis method to estimate and verify the extent to which selection effect and competition effect influence exporting firms' markup. Our findings suggest that the interaction between selection effect and competition effect ultimately causes actual firm markup to be higher than the baseline markup by 7.11%. Exporting firms' actual markup is higher than the baseline markup by different degrees. In terms of the decomposition of selection effect, TFP explains for 28.05% of selection effect, and nonproductivity factors explain for the rest 71.95%. By controlling for the type of firms' export,the export-productivity paradox only exists for processing trade firms, which shows that with increasing trade facilitation, the policy incentives to encourage firms to export are major contributors to the low export markups.
文摘In this paper,digital transformation is included in the heterogeneity model of firms.Based on a general equilibrium analysis,we find that under the effect of diminishing marginal productivity,digital transformation does not always have a positive impact on firms'markups,but has an"inverted U-shaped"nonlinear influence,which first promotes and then inhibits markups.Firm innovation and firm productivity are the key micro-mechanisms for the above effects to play a role.Based on the analysis of typical facts and empirical data of listed companies,the measurement test yields the following results.First,digital transformation can significantly improve firms'markups when it is below a specific threshold value,but it will have a negative impact when it exceeds this value.That is,there is an"inverted U-shaped"nonlinear relationship between digital transformation and firms'markups.Second,the heterogeneity analysis shows that digital transformation has a greater effect on the markups of state-owned firms,export firms and technology-intensive firms than on the markups of other firms.Third,digital transformation has an impact on firms'markups through two key mechanisms:firm innovation ability and production eficiency.The quantitative empirical results confirm the correctness of the theoretical expectations.Therefore,firms need to grasp the strategic opportunities brought by the progress of digital technology and accelerate the process of promoting the digital transformation.Firms should make proper choices in the selection and arrangement of key areas,as well as avoid possible problems such as"too much".In this way,we can better consolidate the micro foundation of China's high-quality economic development.
基金Tenglong Zhong is grateful for the support by the Youth Project from the National Natural Science Foundation of China(No.71903003)the Program for Innovation Research in Central University of Finance and Economics+1 种基金Ming Xu is grateflil for support from the Beijing-Tianjin-Hebei Coordinated Development Think Tank Basic Research Project from the Chinese Academy of Social Sciences(No.2020P05)the Major Project of Research and Interpretation of the Spirit of the 5th Plenary Session of the 19th Central Committee of the Communist Party of China from the National Office for Philosophy and Social Sciences(No.21ZDA021).
文摘Using Chinese microdata from 2000 to 2013,we document how demand shocks in export markets lead multi-product exporters to adjust markups across products.We find that,in response to positive demand shocks,quality-based competitive multi-product firms increase product markups significantly,particularly for core products,whereas cost-based competitive multi-product firms respond by reducing product markups.The reason for this is that positive foreign demand affects markups through two opposite channels:pro-innovative effects and pro-competitive ejfects.Pro-innovative effects are predominant among quality-based competitive multi-product firms,and these firms respond to positive foreign demand shocks by increasing product quality,prices,and markups.Pro-competitive ejfects are predominant among cost-based competitive multi-product firms,and these firms respond to positive foreign demand shocks by lowering product cost,prices,and markups.We demonstrate the presence of these mechanisms empirically.The results imply that firms with different competition strategies should adopt different measures in response to foreign demand shocks.
文摘Multidatabase systems are designed to achieve schema integration and data interoperation among distributed and heterogeneous database systems. But data model heterogeneity and schema heterogeneity make this a challenging task. A multidatabase common data model is firstly introduced based on XML, named XML-based Integration Data Model (XIDM), which is suitable for integrating different types of schemas. Then an approach of schema mappings based on XIDM in multidatabase systems has been presented. The mappings include global mappings, dealing with horizontal and vertical partitioning between global schemas and export schemas, and local mappings, processing the transformation between export schemas and local schemas. Finally, the illustration and implementation of schema mappings in a multidatabase prototype - Panorama system are also discussed. The implementation results demonstrate that the XIDM is an efficient model for managing multiple heterogeneous data sources and the approaches of schema mapping based on XIDM behave very well when integrating relational, object-oriented database systems and other file systems.
