前端污染治理能否规避企业僵尸化风险——基于清洁生产标准的准自然实验  

Can the Pollution Prevention Regulation Avoid the Risk of Zombie Firms——Evidence from Quasi-natural Experiments of Cleaner Production Standard

作　　者：徐保昌 李秀娟 李思慧[2] XU Bao-chang;LI Xiu-juan;LI Si-hui

机构地区：[1]青岛大学经济学院,山东青岛266061 [2]江苏省社会科学院世界经济研究所

出　　处：《中国地质大学学报（社会科学版）》2022年第2期60-74,共15页Journal of China University of Geosciences(Social Sciences Edition)

基　　金：山东省社会科学规划项目“环境规制强度提升背景下山东省制造业企业成长研究”(18DJJJ09)。

摘　　要：在深化供给侧结构性改革及妥善处置僵尸企业过程中,谨防僵尸企业的形成尤为重要。本文以清洁生产标准政策作为准自然实验,采用倍差法评估了前端污染治理对中国制造业僵尸企业形成的影响及作用机制。基于1998—2013年中国制造业企业数据展开的实证研究发现:前端污染治理显著抑制了僵尸企业的形成,其抑制效应在非国有企业、市场化水平较高地区更为显著。进一步地,本文发现前端污染治理通过降低企业成本、推动创新的途径抑制了僵尸企业形成。扩展性检验表明,前端污染治理有效地"治愈"僵尸企业,并在行业层面降低了僵尸企业比重。因此,为提高经济运行的整体效率,可以适当发挥环境管理对企业效益的刺激作用,并结合行业与区域差异综合考虑进一步发展。In the process of deepening supply-side structural reform and properly dealing with zombie enterprises,preventing the formation of new zombie companies is particularly important.This paper takes the cleaner production standard policy as a quasi-natural experiment and uses DID method to systematically evaluate the impact of cleaner production standard implementation on the formation of Chinese manufacturing zombie enterprises and its mechanism.Based on the data of Chinese manufacturing enterprises from 1998 to 2013,the paper conducted an empirical study and found that the cleaner production standards significantly inhibited the formation of new zombie enterprises,and the inhibitory effect is more effective in non-state-owned enterprises and in enterprises with higher marketization level.Furthermore,pollution prevention regulation avoids the risk of zombie firms formation by reducing corporate costs and promoting innovation.Extensibility testing shows that cleaner production standards can cure zombie companies and reduced the proportion of zombie companies at the industry level.Therefore,in order to improve the overall efficiency of economic operation,the stimulating effect of environmental management on enterprise benefits can be properly brought into play,and further development can be made based on the comprehensive consideration of industry and regional differences.

关 键 词：前端污染治理 清洁生产标准 僵尸企业 多期倍差法 

分 类 号：F205[经济管理—国民经济]