企业规模决定因素的经验考察--来自中国企业面板的证据  

The Empirical Investigation of Firm Size Determinants——Evidence from Chinese enterprise panel

作　　者：方明月[1] 聂辉华[2] 

机构地区：[1]中国人民大学经济学院,100872 [2]中国人民大学经济学院企业与组织理论研究中心

出　　处：《南开经济研究》2008年第6期27-36,共10页Nankai Economic Studies

基　　金：“北京地区高等学校学科群建设项目”之子项目“企业和企业集群的创新机制研究”的资助

摘　　要：企业规模或边界问题是企业理论的核心问题,围绕这一问题存在多种理论假说,但尚缺乏足够的经验检验。本文首次利用2001—2003年全国规模以上工业企业构成的平衡面板数据,使用固定效应模型,检验了决定中国企业规模的因素。研究发现,企业规模与资产专用性、创新、企业利润和产权保护程度高度正相关。与之相反,笔者发现产权结构和人均资本对企业规模无显著影响。笔者认为,加大创新力度,深化市场经济体制改革,建立一个法治、竞争、公平和开放的市场环境将有利于企业的成长壮大。Firm size or boundary is the core problem in business theory. Centering on this problem there exist various theories,and yet lack sufficient empirical study. Using 2001-2003 firm-level balanced panel data of manufacturing firms above scale in China ,this paper tests the determinants of China firm size by fixed effects model for the first time. Our results show that firm size has a high positive correlation with asset specificity,innovation,business profit and property rights protection. On the contrary,we find that property rights structure and per^capita capital have no significant influence on firm size. We hold that accelerating technological innovation,deepening market economy system reform and establishing the market environment which is competitive, fair, open and rule of law will be beneficial to the growth of Chinese firms.

关 键 词：企业规模 资产专用性 产权 面板 

分 类 号：F272[经济管理—企业管理] F224[经济管理—国民经济]