摘要
从产业政策视角探究僵尸企业形成的政策性因素,对有效防治企业僵尸化具有重要的现实意义。本文基于省级五年规划纲要和中国工业企业数据库,采用固定效应模型考察产业政策对企业僵尸化的影响及作用机制。研究结果显示:产业政策目标导向会加剧企业僵尸化;产业政策扶持力度会对企业僵尸化产生截然相反的政策效果,强力扶持的产业政策会加剧企业僵尸化,而温和扶持的产业政策会抑制企业僵尸化;相对于非国有企业和非僵尸企业,整体上产业政策对企业僵尸化的影响在国有企业和僵尸企业中更加明显;产业政策通过行业融资依赖度、行业资本密集度和行业资源配置效率对企业僵尸化产生影响。上述研究结论不仅为探究僵尸企业的政策性成因提供了经验证据,而且为动态化防治企业僵尸化和推进企业高质量发展提供了有益参考。
It is of great practical significance to explore the policy factors of enterprise zombification from the perspective of industrial policy. Based on the provincial five-year plan and Chinese Industrial Enterprises Database, this paper uses the fixed-effect model to investigate the impact of industrial policy on enterprise zombification and its mechanism. The results show that the goal-oriented industrial policy will intensify the enterprise zombification;The strength of industrial policy support will produce opposite policy effect on enterprise zombification. Strong industrial policy support will intensify enterprise zombification, while moderate industrial policy support will restrain enterprise zombification. Compared with nonstate-owned enterprises and non-zombie enterprises, the impact of industrial policy on enterprise zombification is more obvious in state-owned enterprises and zombie enterprises. Industrial policy has an impact on enterprise zombification through industry financing dependence, industry capital intensity and industry resource allocation efficiency. The above conclusions not only provide empirical evidence for exploring the policy causes of zombie enterprises, but also provide useful reference for dynamic prevention and treatment of enterprise zombification and promotion of high-quality development of enterprises.
作者
张伟广
冯师钰
ZHANG Wei-guang;FENG Shi-yu(School of Economics,Dongbei University of Finance and Economics,Dalian 116025,China)
出处
《财经问题研究》
北大核心
2023年第3期57-67,共11页
Research On Financial and Economic Issues
基金
辽宁省社会科学规划基金青年项目“辽宁工业经济质量的指标测算与产业扶持效应研究”(L20CJY016)。
关键词
产业政策
政策扶持力度
企业僵尸化
高质量发展
industrial policy
strength of policy support
enterprise zombification
high-quality development
