官员家乡情何以促进家乡建设?——企业投资的视角  

How Does Officials'Hometown Favoritism Promote Hometown Construction?From the Perspective of Corporate Investment

作　　者：梁珊珊[1] 安磊 杨秀云[1] Liang Shanshan;An Lei;Yang Xiuyun(School of Economics and Finance,Xi'an Jiaotong University;School of Economics and Business Administration,Chongqing University)

机构地区：[1]西安交通大学经济与金融学院,710061 [2]重庆大学经济与工商管理学院,400044

出　　处：《经济评论》2024年第4期153-168,共16页Economic Review

基　　金：国家自然科学基金面上项目“文化产业融合发展的机理、演化及实现路径研究”(71974158);国家自然科学基金青年项目“新型城镇化进程中户籍改革的劳动力区域再配置效应:动力机制、经济影响与政策优化研究”(72203028);教育部人文社会科学研究青年基金项目“新型城镇化建设与人口迁移格局演化:特征、机理、影响与政策优化研究”(22XJC790001);西安市软科学项目“数字技术赋能西安市高技术制造业创新发展研究”(22RKYJ0029)的资助。

摘　　要：基于身份认同经济学和寻租理论,本文探究了官员家乡情结对企业投资行为的影响。研究发现:官员家乡情结促进了企业投资,但并未对其投资效率产生负面影响,官员家乡情结主要源于身份认同;作用机制方面,官员家乡情结通过提高融资规模而非扭曲融资成本影响企业投资;官员具有中央工作经历、本地晋升时,家乡情结对企业投资的影响更加显著;官员家乡情结对企业投资的正向影响主要体现在资本密集型行业和经营绩效更好的企业中。本研究发现官员家乡情结和身份认同等非正式制度是影响企业发展的因素,对适度运用和发挥非正式制度的作用及引导资源配置具有新的启示。Based on identity recognition and rent-seeking theory,this paper examines the influence of officials'hometown favoritism on corporate investment behavior.The research shows that:Officials'hometown favoritism promotes corporate investment but has no negative impact on investment efficiency,which indicates that officials'hometown favoritism mainly stems from identity recognition.Officials'hometown favoritism mainly affects corporate investment through increasing financing scale rather than distorting financing costs.When officials have prior expertise in central government or local promotion,officials'hometown favoritism has a more significant impact on corporate investment.The positive relationship between officials'hometown favoritism and corporate investment is mainly reflected in capital-intensive industries and enterprises with higher performing businesses.The conclusions reveal that informal institutions such as officials'hometown emotions and identity recognition are deep factors that affect the development of enterprises.It has new enlightenment for appropriately using and playing the role of informal institutions,and guiding resource allocation.

关 键 词：家乡情结 身份认同 企业投资 非正式制度 

分 类 号：F275[经济管理—企业管理]