交易成本是影响纵向整合选择的重要因素吗?——来自中国煤电上市公司的实证检验  

Is Transaction Cost an Important Factor Influencing Vertical Integration Selection?——An Empirical Test Based on Chinese Coal and Electricity Listed Companies

作　　者：徐斌[1] 

机构地区：[1]江西财经大学工商管理学院产业集群与企业发展研究中心,江西南昌30013

出　　处：《经济经纬》2012年第1期12-17,共6页Economic Survey

基　　金：教育部人文社会科学研究青年基金项目(10YJC790306)

摘　　要：笔者以中国52个煤电上市公司的纵向整合状况为例,运用面板数据模型分析了煤电企业选择纵向整合方式时考虑的因素。研究结果表明:交易成本对煤电企业采用纵向整合的影响较大,生产成本和策略效应的影响较小,这证实了交易成本和组织成本影响到了纵向整合的选择。纵向整合是中国煤电协调的有效但非唯一选择。Taking the vertical integration of fifty - two Chinese cola and electricity listed companies as examples, using panel data model, the author analyzed the factors that coal and electricity enterprises consider when choosing vertical integration patterns. The results show that transaction costs have great impact on the adoption of vertical integration by coal and electricity enterprises, production costs and strategies have less impact, which proved that transaction cost and organization cost have influence on the selection of vertical integration. Vertical integration is an effective but not the only choice to coordinate China＇s coal and electricity.

关 键 词：煤电 纵向整合 交易成本 

分 类 号：F16[经济管理—世界经济] F062.9