产业内生产率变动差异与资本有效配置
——以中国工业企业为例
陈甬军 刘勇凤 林自达
摘 要：资本配置效率不仅取决于市场的完善程度，也受制于企业本身的生产过程。本文采用动态资本投入模型描述了企业的生产过程，利用分析推导出的四个回归关系式，论证了产业内生产率变动的离散程度对企业的资本配置效率的影响，并指出了产生该项影响的原因是企业存在资本调整成本。另外，矩关系式表明产业内企业生产率变动的离散程度与企业生产过程中面临的不确定性有关。之后采用中国工业企业1999～2007年的面板数据，实证检验了企业生产率变动的差异与企业资本配置效率的关系，同时用模拟矩估计的方法估计了中国工业企业的资本调整成本函数，计算得出包括资本调整成本的理论模型所预测的数据与真实数据的拟合度为0.96。本文的研究结果表明提高企业的资本配置效率需要为企业创造稳定的产业环境，以及降低企业的资本调整成本。
关键词：工业企业 资本配置 生产率 离散
The Dispersion of Productivity Change and Efficient Allocation of Capital in an Industry – A Case Study of China's Manufacturing Industry
Yongjun Chen Yongfeng Liu Zida Lin
Abstract: The efficient of resource allocation is not only decided by whether the market is perfect or not, but also impacted by a firm’s productive process. This paper built a dynamic model of firm’s capital input to clarify its productive process, proved the effect of the dispersion of firms’ productivity fluctuations on the efficiency of capital allocation by using four linear regression equations, and pointed out the reason of this effect is the existence of capital adjustment cost. Also, one moment equation shows that the dispersion of firms’ productivity fluctuations is related to the uncertainty which firms were meeting in their productive process. Then, by using the data of industrial firms in China from 1999 to 2007, this paper confirmed the relation between the dispersion of firm’s productivity fluctuations and the efficiency of capital allocation empirically, and estimated the function of capital adjustment cost by using simulated moments method, then this paper calculated the goodness of fit which is 0.96 to certify that the theoretical model which includes capital adjustment cost is effective. The research results of this paper provide a new way to improve the efficiency of capital allocation, that is, to create a relatively stable industrial environment and to reduce the capital adjustment cost.
Keywords: Industrial Firms Capital Allocation Productivity Dispersion
JEL Classification: D24 L60
最优产业组织研究与反垄断规制启示
—基于厂商数量、规模与产业产量三指标
马文军
摘 要：基于产业市场需求曲线和厂商技术成本曲线的一般性组合，以及有关平均型厂商市场需求曲线变化规律的科学界定，从经济利润最大的效率目标着眼，尝试构建了图示的最优产业组织分析模型，分析了产业中厂商数量、规模和产业产量三个产业组织关键指标的最优值。研究表明，最优产业组织是客观存在的，主要受产业市场需求与厂商技术成本等因素制约和决定；不同产业的最优产业组织各不相同，特殊情况下完全垄断可以是最优的；反垄断规制实践应该具体产业具体分析，不应该所有产业一刀切。
关键词：产业组织 最优分析 厂商数量 厂商规模 产业产量 反垄断规制
Research on the Optimal Industrial Organization and Inspiration of Anti-monopoly Regulation: Based on Firm Number and Firm Size and Industrial Output
Wenjun Ma
Abstract: From the general combination of industrial market demand curves and firm cost curves, and based on the scientific definition of average firm’s market demand curves in an industry having different concentration degree, a graphic measure model on the optimal industrial organization is built according to the efficiency goal of maximum economic profit, and three key indexes of industrial organization including optimal firm number, firm size and industrial output are defined. Research shows that the optimal industrial organization is the objective existence, which mainly conditioned by the industrial market demand and firm technical cost. The optimal industrial organization is different with the different industries, and monopoly would be the best under special circumstances. Anti-monopoly regulation should take different practice according to the different industries, and set a unified standard for all industries is not suitable.
Keywords: Industrial Organization Optimal Analysis Firm Number Firm Size Industrial Output Anti-monopoly Regulation
JEL Classification: L00 L16 L40
网约车的边缘性进入对出租车市场结构的影响
——以北京市为例
孟昌 齐驰名
摘 要：中国城市出的租车市场普遍采取数量控制和服务价格的双重管制。数量控制是政府通过设置行政性进入壁垒对在位企业实施保护，创造了租金的同时也形成了寻租利益集团。基于调研和官方数据、边缘性进入模型，分析了网约车平台对出租车市场结构的影响。主要结论是，网约车的边缘性进入降低了管制者的福利和出租车公司的利润，在位企业的垄断“租金”在这种进入下不具有可维持性。基于出租车运行现状的调研的分析表明，对网约车的严厉管制或将导致社会福利的净损失。政府应该从社会公共利益出发，逐步解除出租车市场进入的行政壁垒，通过设立运营车辆服务质量标准的注册制替代数量的行政控制，由经济性管制转向社会性规制。
关键词：出租车市场 行政性进入壁垒 网约车 边缘性进入 市场结构
The Influence of Taxi Market Structure aroused by The Fringe Entry of Online Car-hailing Service——Taking Beijing as an Example
Chang Meng Chiming Qi
Abstract：The taxi market is under dual control of quantity and price in most urban of China. The government establishes administrative barriers to entry to control the quantity, these policies create monopoly rent and rent-seeking interest groups. Based on the investigation and official data, this paper analyzes the present control problems of taxi market in Beijing. Then establish theoretical model based on the fringe entry theory to explore the influence of the taxi market structure aroused by online car-hailing service. The main conclusion is that the fringe entry of online car-hailing reduces the welfare of regulators and the benefits of traditional taxi group, and high monopoly “rents” won’t be maintained with the fringe entry of online car-hailing service. The analysis of the investigation on current situation of taxi operation shows that strict control of online car-hailing service will lead to the deadweight loss of social welfare. The government should proceed from the social public interest, gradually lift the administrative barriers to entry into the taxi market, and establish operational vehicle service quality standard registration system to replace the administrative control over the quantity, change economic regulation into social regulation.
Keywords: Taxi Market Administrative Barriers To Entry Online Car-hailing Fringe Entry Market Structure
JEL Classification: L43 L51 L98
中国实体零售商有必要开展网络销售业务吗？
刘向东 陈成漳
摘 要：本文基于双重差分估计方法思想，利用中国零售企业上市公司数据，通过动态面板模型差分GMM估计评估了中国实体零售商开展网络销售业务对其整体销售额的影响。研究发现，在控制了劳动投入与资本投入对产出的影响，并控制了时间效应之后，没有充分证据表明开展网络销售业务显著提高了实体零售商的整体销售额。并且在区分了零售商的业态形式，分别对超市业态样本与百货业态样本进行回归分析时，回归结果基本一致。而基于两步法思想对前述回归结果进行稳健性检验时，也得到了一致的结果。针对这一结果，本文尝试从中美零售行业结构差异的对比分析中给予适当的解释。基于本文的研究结论，实体零售商不能仅仅将互联网视为一种新的销售渠道，而应充分利用互联网技术改造自身，寻求数字化转型。
关键词： 网络渠道 实体零售商 全渠道零售
Is it Necessary for Chinese “Bricks-and-mortar” Retailers to Carry out Online Sales Business?
Xiangdong Liu Chengzhang Chen
Abstract: Using listed retail firm level data in China, this paper uses GMM estimation of a dynamic panel data model to analyze the effects of the adoption of online channel on the sales of “bricks-and-mortar” retailers in China under the framework of difference in difference. It finds that after controlling for labor input and capital input, and the time effect, there is no significant improvement in the firm’s sales after it started to provide online shopping service. Besides, after dividing the whole sample into supermarket format sample and department store sample, the result are basically consistent. Such conclusion remains the same based on the two-step method for robustness test. According to these results, this paper tries to give an appropriate explanation from the comparative analysis of the differences in the structure of the retail industry between China and the United States. Based on the findings of this paper, the “bricks-and-mortar” retailers can’t only regard the Internet as a new selling channel, but make full use of the Internet technology to improve themselves.
Keywords: Online Channel “Bricks-and-mortar” Retailers Omni-channel Retailing
JEL Classification: D21 L25 M21
制度环境如何影响海外高层次人才回流的国际知识溢出效应：一个文献评述
陈怡安
摘 要：当前如何营造一个良好的制度环境有利于海归更大程度的释放其回流的国际知识溢出效应具有非常紧迫的现实意义，能够为政府引才政策提供重要的理论与实践依据。因此，本文在前期文献基础上， 就制度对海归回流国际知识溢出效应影响渠道进行了回顾，进一步总结和归纳了制度水平与制度距离对海归回流国际知识溢出效应的影响，最后对现有研究进行了述评和展望，以期对发展中国家和地区利用海外高层次人才回流释放的国际知识溢出效应实现技术进步和经济增长提供借鉴和参考。
关键词：制度水平 海外高层次人才 制度环境 国际知识溢出效应
How the Institutional Environment Affects the International Knowledge Spillover Effect of Overseas High - level Talents Returning: A Literature Review
Yian Chen
Abstract: At present, how to build a favorable institutional environment which is conducive to the returnees a greater degree of release the international knowledge spillover effect has a very pressing practical significance and can provide important theoretical and practical basis for government policy. Therefore, based on the previous literature, this paper analyzes the institutional level and the returnees’ motive, and further summarizes the influence of the institution on the international knowledge spillover effect of returnees. Finally, the author reviews and forecasts the existing research in order to provide reference for developing countries and regions to utilize the international knowledge spillover effect of overseas high-level talents to realize technological progress and economic growth.
Keywords: Institutional Level Overseas High-level Talents Institutional Environment International Knowledge Spillover Effect
JEL Classification: F24 F204
行业效率与演进模式研究——以南京市旅游业为例
綦宸玥 侯泽敏
摘 要：行业效率与行业演进模式密切相关。通过分析投入要素向最优规模调整的动态过程，揭示行业发展动态演进的主导模式和效率提升途径，为进一步提高行业资源投入效率提出有针对性的政策建议。本文以南京市旅游业为例，选取2003-2014年南京市旅游产业相关投入产出的数据，在考虑生态环境影响的负效应基础上，通过DEA效率分析从时间维度对南京市的旅游效率进行分解，基于技术效率和规模效率两个层面揭示南京市旅游效率的变化，形成南京市旅游发展的效率特征及演进模式，为南京市旅游发展提出政策建议，从而揭示行业效率改进的有效途径。结果表明：(1)南京市的旅游综合效率呈现递增趋势，且城市旅游规模效率与综合效率表现出较高的相关性；技术效率呈现出稳定态势，但在2011年和2013年呈现下滑；(2)南京市旅游效率由规模效率占主导向技术效率占主导，由规模收益递增向规模收益递减过渡的演进模式；(3)南京市在提升城市旅游效率时需要从规模投入向技术投入转变，进一步提升城市旅游的服务质量。
关键词：旅游效率 演进模式 DEA 技术效率
Research on Industry Efficiency and Evolution Model: Based on Tourism Industry of Nanjing
Chenyue Qi Zemin Hou
Abstract: Industrial efficiency measurement and industrial evolution are the important contents in industrial organization theory. This paper takes Nanjing tourism industry as an example, selecting the input and output data from 2003 to 2014, on the basis of considering the negative input of the ecological environment, toanalyze the tourism efficiency of Nanjing and to reveal the efficiency characteristics and change models of Nanjing tourism industry. The result shows that: (1) The comprehensive efficiency of Nanjing is growing, and comprehensive efficiency has a high correlation with the scale efficiency, which dominates in comprehensive efficiency of Nanjing.Technology efficiency presents a stable situation, however, it had a decline in 2011 and 2013. (2) The tourism industrial model of Nanjing is changing over time. In the previous years, scale efficiency plays an important role in Nanjing’s tourism efficiency and increasing returns to scale is a key mode, while in today, technology efficiency is dominant and tourism efficiency become decreasing returns to scale. (3) Nanjing should give much attention to technologyrather than scale input in improving tourism efficiency.
Keywords: Tourism Efficiency Change Model DEA Technology Efficiency
JEL Classification：O13 O38 R15
市场结构、效率与中国装备制造企业盈利能力
陈艳莹 程鹏
摘 要：本文在系统梳理市场结构与企业盈利能力关系的经典理论的基础上，以中国工业企业数据库1998—2007年间的装备制造企业微观数据为样本，研究了我国装备制造业市场结构、效率与企业盈利能力之间的关系。本文利用国际前沿的ACF法测算了企业的全要素生产率，将企业效率和市场势力同时引入研究框架，有效地区分了效率结构假说和相对市场力量假说。研究发现：企业效率和市场势力是促进中国装备制造企业盈利能力不断提高的主要原因，企业盈利能力的增强是企业市场竞争力提升的表现，而非垄断的结果，结论支持修改的效率结构假说。
关键词：市场结构 效率 装备制造业 盈利能力 ACF法
Market Structure, Efficiency and Profitability of China's Equipment Manufacturing Enterprises
Yanying Chen Peng Cheng
Abstract: Based on the analyses of the classic theories about the relationship between market structure and profitability enterprises, by using China's industrial enterprise database of enterprise micro data during 1998-2007 as samples, the relationship between China's equipment manufacturing industry market structure, the efficiency and profitability is studied. In this paper, using the method of ACF to measure the total factor productivity of the firm, to avoid the use of market share as the proxy variable of enterprise efficiency may produce some problems. The study finds that: Business efficiency and market power can improve the profitability of China's equipment manufacturing enterprises; the enhancement of enterprise profitability is because of market competitiveness of enterprises rather than the result of monopoly.
Keywords: Market Structure Efficiency The Equipment Manufacturing Industry Profitability ACF
JEL Classification: C33 L16
网络借贷中存在性别和婚姻歧视吗？
——来自人人贷的经验分析
孙武军 刘帆
摘 要：性别和婚姻状况是每个借款人都具有的基本特征，对于借款人在P2P借贷市场上的借贷成功率与否会产生深远影响。本文运用“人人贷”2010年至2015年的交易数据，从投资者投资决策和借款人是否违约的角度出发，实证研究了性别和婚姻状况在我国P2P借贷市场上是否存在歧视性。研究结果表明：（1）借款人的性别对借贷成功率和违约率均具有显著影响。男性借款人的借贷成功率低且违约率高，女性借款人的借贷成功率高且违约率低。（2）借款人的婚姻状况也会显著影响借贷成功率，但对违约率的影响非常不显著。尽管已婚借款人的借贷成功率更高，但其违约率与单身借款人之间并没有显著差异。进一步的研究发现，性别与婚姻状况的共同作用会影响单个特征变量对借贷成功率和违约率的主效应。具体地，与已婚女性相比，单身女性与已婚男性的借贷成功率更低，且违约率更高；与单身男性相比，单身女性与已婚男性的借贷成功率更低，且违约率更高。
关键词：P2P借贷 性别差异 婚姻状况 借贷成功率 违约率
Does Online Lending exist gender and marriage discrimination?
---Evidence from P2P platform Renren Dai
Wujun Sun Fan Liu
Abstract: As the basic characteristics of each person, gender and marital status have an irreplaceable effect on the behavior pattern of borrowers in the P2P lending market. Using the real transaction data collected from “renrendai”, this paper investigates the role and influence of gender and marital status in the P2P lending market form both lender and borrower. The regression results show that gender has a significant impact on both the success rate of obtaining loan and the default rate. Male borrowers have a lower success rate of obtaining loan and a higher default rate, while female borrowers have a higher success rate of obtaining loan and a lower default rate. The marital status will significantly affect the success rate of obtaining loan, but the impact on the default rate is not obvious. Specially, the married borrowers’ success rate of obtaining loan is higher than that of single borrowers, while there was no significant effect of marital difference on the default rate. Furthermore, the interaction term of gender and marital status will affect the main effect of individual variable on the success rate of obtaining loan and the default rate. Concretely, compared to married women, single women and married men have a lower success rate of obtaining loan and a higher default rate. Similarly, compared to single men, single women and married men have a lower success rate of obtaining loan and a higher default rate.
Keywords: Peer to Peer Lending Gender Differences Marital Status Success Rate of Obtaining Loan Default Rate
JEL Classification: G11 G21