资本投入取值:取存量还是流量,用资产还是资本?  

Capital Input Value:Stock or Flow,Asset or Capital钥

作　　者：张金昌[1] 黄静 Zhang Jinchang;Huang Jing

机构地区：[1]中国社会科学院工业经济研究所,北京100006 [2]中国社会科学院大学商学院,北京102401

出　　处：《企业经济》2024年第9期81-90,共10页Enterprise Economy

基　　金：中国社会科学院创新工程课题“我国制造业企业全要素生产率研究”(项目编号:02010103050100324089)。

摘　　要：资本投入使用资产、固定资产还是资本、资本回报,这对全要素生产率的计算结果影响甚大。本文分析学术界关于资本投入的主要代理变量之后认为,资本投入代理变量的选择应当回归资本的原始含义使用资本流量指标。企业的现金流量表提供了资本投入、劳动投入、产出的当期流量的会计核算结果。使用当期流量指标能将全要素生产率各主要变量的计算口径统一为基于现金流量核算的当期流量,计量单位亦能统一为货币价值量。建立在统一会计核算制度基础上的全要素生产率的计算结果,可以实现同一时期同一主体计算结果的可比。这一建议能使企业、产业、区域、国家的全要素生产率计算方法统一起来,而且这种建立在定期披露的会计核算数据基础之上的全要素生产率及其变化的计算结果也能直接用来指导经济领域的实际工作。Whether the capital input is the use of assets,fixed assets or capital,and the capital return has a significant impact on the calculation of total factor productivity.This article studies the main proxy variables of capital investment in the academic community,and believes that the selection of proxy variables for capital investment should return to the original meaning of capital and use capital flow values.The cash flow statement of a company provides accounting results for the current flows of capital input,labor input,and output.After using the current flow indicators,the calculation caliber of the main variables of total factor productivity can be unified as the current flow based on cash flow accounting,and the measurement unit can be unified as the monetary value.The calculation results of total factor productivity based on a unified accounting system can achieve the comparability between different studies.The practical significance of this research conclusion is to unify the calculation methods of total factor productivity for enterprises,industries,regions,and countries.On the other hand,the total factor productivity values and their changes based on regularly disclosed accounting results can be directly used to guide practical work in various economic fields.

关 键 词：资本投入 资本存量 资本流量 全要素生产率 

分 类 号：F270.3[经济管理—企业管理] F406.7[经济管理—国民经济]