国资监管体制改革与国有企业全要素生产率  

The State-owned Assets Supervision System Reform and The Total Factor Productivity of State-owned Enterprises

作　　者：柳雅君[1] 郭檬楠 LIU Ya-jun;GUO Meng-nan(School of Accounting,Shanxi University of Finance and Economics,Taiyuan 030006,China)

机构地区：[1]山西财经大学会计学院,山西太原030006

出　　处：《经济问题》2023年第1期80-86,共7页On Economic Problems

基　　金：国家自然科学基金青年项目“管理体制改革、数智化赋能与国家审计促进国企高质量发展”(72102132)。

摘　　要：如何通过国资监管体制改革提高国有企业全要素生产率是决定国有经济高质量发展的关键所在。基于国有资本投资运营公司改革的准自然实验,采用双重差分模型考察国资监管体制改革对国有企业全要素生产率的影响机制。研究发现,国资监管体制改革可以显著提高国有企业全要素生产率。影响机制检验发现,国资监管体制改革可以通过降低代理成本和抑制管理层短视行为提高国有企业全要素生产率;政策性负担显著降低了国资监管体制改革对国有企业全要素生产率的促进作用。研究结论为构建以“管资本”为主的国资监管体制及促进国有经济高质量发展提供了经验证据和政策启示。How to effectively improve the total factor productivity of state-owned enterprises through the reform of the state-owned assets supervision system is the key to determining the high-quality development of China’s state-owned economy.This paper uses the quasi-natural experiment of the reform of state-owned capital investment and operation companies,and uses the double difference model to examine the influence mechanism of the reform of the state-owned assets supervision system on the total factor productivity of state-owned enterprises.The result shows that the reform of the state-owned assets supervision system can significantly increase the total factor productivity of state-owned enterprises.The test of the mechanism shows that the reform of the state-owned assets supervision system can improve the total factor productivity of state-owned enterprises by reducing agency costs and enhancing corporate governance capabilities.The policy burden significantly reduces the promotion effect of state-owned assets supervision system reform on the total factor productivity of state-owned enterprises.It provides empirical evidence and policy inspiration for building a state-owned asset supervision system based on capital management,and promoting the high-quality development of the economy.

关 键 词：国资监管体制 国有资本投资运营公司 国有企业 全要素生产率 

分 类 号：F270[经济管理—企业管理]