国有企业工作经历、企业家才能与企业成长  

Working Experience in SOEs, Entrepreneurial Talent and Enterprise Growth

作　　者：徐尚昆[1] 郑辛迎 杨汝岱[3] XU Shang-kun;ZHENG Xin-ying;YANG Ru-dai(School of Philosophy,Renmin University of China,Beijing100872,China;Business School of Hunan Normal University,Changsha 410081,China;School of Economics Peking University,Beijing100871,China)

机构地区：[1]中国人民大学哲学院 [2]湖南师范大学商学院 [3]北京大学经济学院

出　　处：《中国工业经济》2020年第1期155-173,共19页China Industrial Economics

基　　金：国家社会科学基金青年项目“多重变动格局下化解产能过剩的微观动态机制研究”（批准号17CJL026）

摘　　要：人力资本的高效配置和企业家才能的充分发挥关系到经济的可持续发展,制度建设如果能促进资源合理流向具有企业家才能的企业家,就能创造更多就业和社会财富。基于全国1997—2016年的私营企业调查数据,本文考察企业家的国有企业工作经历对企业成长的影响。研究结果显示,企业家的国有企业工作经历使得企业在市场扩张和盈利能力等方面表现更好,带来了更高水平的企业成长。机制讨论表明,企业家行为带有明显的烙印效应,国有企业工作经历为企业家带来了更多的社会资本和更高的公司治理水平,从而促进了企业成长。为了缓解由于选择性偏误等带来的内生性,本文采用倾向得分匹配、处理效应模型、代理变量、双差分模型等方法进行处理,结论仍然稳健。中国经济要向资源配置效率改善型模式转变,企业家才能的发挥至关重要,国有企业改革不仅应注重产权等方面的改革,同时也要充分重视国有企业改革带来的人力资本溢出效应。在不断深化国有企业改革的大背景下,本文从企业家才能培育和人力资本配置效应的角度考察国有企业改革问题,倡导国有企业改革进程中进一步营造企业家才能发挥的空间和制度安排,提高人力资本配置效应,从而促进中国经济健康可持续发展。The efficient allocation of human capital and the full play of entrepreneurial talents are related to the sustainable development of the economy.If system construction can promote the rational flow of resources to talented entrepreneurs,then more employment and social wealth can be created.Based on the survey dataset on Chinese private enterprises from 1997 to 2016,this paper examines the impact of entrepreneurs’working experience in state-owned enterprises(SOEs)on the growth of enterprises.The test results show that the working experience of entrepreneurs in SOEs has made enterprises perform better in terms of market expansion and profitability,and has brought higher levels of corporate growth.The mechanism discussion shows that entrepreneurial behavior has obvious imprinting effects.The working experience in SOEs has brought more social capital and a higher level of corporate governance to entrepreneurs,thereby promoting the growth of enterprises.In order to alleviate the endogenousness caused by selection bias,this paper uses propensity score matching(PSM),treatment effect model,proxy variables,DID model to deal with it,and the conclusion is still robust.In order for the Chinese economy to shift to a model of improved resource allocation efficiency,the play of entrepreneurial talents is crucial.The reform of SOEs should not only focus on reforms such as property rights,but also fully pay attention to the spillover effects of human capital brought about by the reform of SOEs.In the context of continuously deepening the reform of SOEs,this paper examines the reform of SOEs from the perspective of the cultivation of entrepreneurial talent and the allocation effects of human capital,and advocates that in the process of reform,it is necessary to further create spaces and institutional arrangements for entrepreneurs to exert their talents,and improve the effect of human capital allocation,thus promoting the healthy and sustainable development of China’s economy.

关 键 词：国有企业工作经历 企业家才能 社会资本 公司治理 企业成长 

分 类 号：F272[经济管理—企业管理]