产品市场竞争、所有权性质与全要素生产率——来自中国上市公司的经验证据  

Product Market Competition,Nature of Property Rights and Total Factor Productivity: Evidence from Chinese Listed Companies

作　　者：李春霞[1] 

机构地区：[1]天津财经大学经济学院,天津300222

出　　处：《财贸研究》2016年第1期19-27,共9页Finance and Trade Research

基　　金：国家社会科学基金项目"市场决定背景下金融资源错配的微观基础及治理机制研究"(15BJL028);天津市哲学社会科学研究规划项目"基于产权视角的我国企业储蓄行为研究"(TJYYWT 15-014);天津财经大学科研发展基金(Q140101)的资助

摘　　要：全要素生产率的提高是中国当前经济发展的关键所在。从静态角度看,产品市场竞争对全要素生产率的积极效应在民营企业(或非国有持股比例较高的公司)中更为显著;从动态角度看,随着中国市场化改革的推进,当企业的终极控制人由国有变为民营时,产品市场竞争和私有产权对全要素生产率的影响由冲突逐渐趋向融合。此外,产品市场竞争对处于不同分位数的企业全要素生产率的影响存在显著差异,并且上市公司中国有企业的全要素生产率要高于民营企业。The improvement of total factor productivity is the key to China＇s current economic development. From the static point of view,the positive effect of product market competition on TFP is greater in the private companies（ or when the ratio of non- state owned shareholding is higher）,while from the dynamic point of view,the positive effect of product market competition on TFP will strengthen when the ultimate controller changes from the state to the private. In addition,there are significant differences between the effects of product market competition on the TFP in different quantiles. And the total factor productivity of state- owned enterprises is higher than that of private enterprises in the capital market.

关 键 词：产品市场竞争 全要素生产率 资本市场 所有权性质 

分 类 号：F830.9[经济管理—金融学] F123.9