中国城际高铁与公司客户集中度--基于准自然实验的证据  

High-speed Railway and Corporate Customer Concentration:Evidence from a Quasi-natural Experiment

作　　者：陈胜蓝[1] 刘晓玲 Chen Shenglan;Liu Xiaoling(School of Economics and Management,Inner Mongolia University,Hohhot 010021,China;School of Management,Xiamen University,Xiamen 361005,China)

机构地区：[1]内蒙古大学经济管理学院,010021 [2]厦门大学管理学院,361005

出　　处：《南开经济研究》2020年第3期41-60,共20页Nankai Economic Studies

基　　金：国家自然科学基金项目(71572087);内蒙古自然科学基金项目(2018MS07014)的资助。

摘　　要：本文利用中国城际高铁开通产生的准自然实验变化来考察城市交通基础设施如何影响公司的客户集中度。由于转换成本的存在会限制公司寻找新客户,城际高铁开通降低公司运输成本带来的交易量增加主要来自公司已有的主要客户,使公司客户集中度提高。借助中国城际高铁开通在时间和空间上错列发生的特征,本文使用双重差分方法的检验结果表明城际高铁开通使公司客户集中度提高了15%。高铁开通带来运输成本的下降是其影响公司客户集中度的重要渠道。进一步研究表明转换成本越高,高铁开通对公司客户集中度的提高越显著。最后,研究结果表明由高铁开通带来的客户集中度提高可以促进公司业绩的提升。本文提供了城市交通基础设施影响公司客户集中度的因果证据,研究结果有助于打开交通基础设施影响经济增长的黑箱,揭示其影响机制的微观途径,对中国交通基础设施建设具有一定的启示意义。This paper exploits the opening of China's High-Speed Railway(HSR)as an exogenous quasi-experimental variation to examine how the transportation infrastructure affects the customer concentration.The analysis based on the model of switching cost shows that because of switching cost limits the company to search for new customers,the increase in the volume of transactions brought by the city's High-Speed Railway mainly comes from the major customers,which leads to a significant increase by 15%in customer concentration.The reduction of transportation cost is an important channel between them.Further research shows that the effect of High-Speed Railway on the company's customer concentration is more significant for firms with higher switching cost.Finally,the result shows that the increase of customer concentration caused by the opening of High-Speed Railway can promote the company's performance.This paper provides the causal evidence that the city's transportation infrastructure affects the customer concentration of the company.The research result can help to shed light into the black box of how the transportation infrastructure promotes economic growth,which is of enlightening significance for the reform of China's transportation infrastructure.

关 键 词：交通基础设施 高铁 客户集中度 准自然实验 

分 类 号：F532[经济管理—产业经济] F274