国资监管体制改革对国有企业绩效的影响——基于以管资本为主改革的准自然实验  

The Impact of the Reform of the State-owned Assets Supervision System on the Performance of State-owned Enterprises:Based on Quasi-Natural Experiment Verification of Capital Management Reform

作　　者：乔琳 綦好东[2,3] QIAO Lin;QI Hao-dong

机构地区：[1]山东财经大学经济研究中心 [2]山东财经大学国有资本研究院 [3]山东财经大学会计学院

出　　处：《改革》2023年第3期46-61,共16页Reform

基　　金：研究阐释党的十九届五中全会精神国家社会科学基金重大项目“深化国企混合所有制改革的理论与实践创新研究”(21ZDA040)。

摘　　要：以管资本为主进行国资监管体制改革是深化国资国企改革和推动国有经济高质量发展的重要举措。以2015年10月国务院发布的《关于改革和完善国有资产管理体制的若干意见》为准自然实验契机,运用2008—2020年A股上市公司数据,采用双重差分法实证检验国资监管体制改革对国有企业绩效的影响。研究发现:国资监管体制改革有助于国有企业提高效益效率,提升创新能力,做强主业实业,降低企业风险;国资监管体制改革通过降低政府干预程度和完善公司治理等方式提升国有企业绩效;与较低行业竞争程度以及较小规模的国有企业相比,国资监管体制改革更有助于提升较高行业竞争程度和较大规模国有企业的绩效。Reforming the state-owned assets supervision system based on capital management is an important measure to deepen the reform of the state-owned assets and enterprises and promote high-quality development of the state-owned economy.Taking the"Several Opinions on Reforming and Improving the State-owned Assets Management System"issued by the State Council in October 2015 as a quasi-natural experimental opportunity,using data from A-share listed companies from 2008 to 2020,this paper empirically tested the impact of the reform of the state-owned assets management system on the performance of state-owned enterprises using the dual difference method.The research finds that the transformation of the state-owned assets regulatory system can help state-owned enterprises improve efficiency,enhance innovation capabilities,strengthen their main industries,and reduce enterprise risks.The reform of the state-owned assets supervision system improves the performance of state-owned enterprises by reducing the degree of government intervention and improving corporate governance.Compared with lower industry competition and smaller state-owned enterprises,the reform of the state-owned assets supervision system is more conducive to improving the performance of state-owned enterprises with higher industry competition and larger scale.

关 键 词：国资监管体制改革 国有企业绩效 国企高质量发展 双重差分模型 

分 类 号：F276.1[经济管理—企业管理]