企业竞争战略影响全要素生产率机制探讨——基于企业生命周期理论的实证检验  

Exploring the Mechanism of the Impact of Enterprise Competitive Strategy on Total Factor Productivity:An Empirical Test Based on the Theory of Enterprise Life Cycle

作　　者：岳宇君 马艺璇 YUE Yu-jun;MA Yi-xuan

机构地区：[1]南京邮电大学管理学院 [2]南京大学商学院

出　　处：《中央财经大学学报》2024年第10期115-128,共14页Journal of Central University of Finance & Economics

基　　金：2022年度教育部人文社会科学研究规划基金项目“数智化转型、成本粘性与企业高质量发展:理论、实证与政策研究”(项目编号:22YJA790082)。

摘　　要：企业竞争战略选择影响全要素生产率且因企业所处生命周期阶段不同而存在差异。笔者在依据企业生命周期理论和竞争战略理论构建相关论题研究模型的基础上,采用2009—2021年中国沪深A股上市公司为研究样本的有效数据,利用固定效应模型、Tobit模型及工具变量法,分别从差异化战略和成本领先战略实证检验了企业竞争战略在企业生命周期的成长期、成熟期和衰退期对企业全要素生产率的具体影响。检验结果证实:在企业竞争战略影响全要素生产率的关联中,企业差异化战略与全要素生产率正相关,企业成本领先战略与全要素生产率负相关;差异化战略和成本领先战略在企业生命周期的不同阶段对企业全要素生产率的影响具有差异性。进一步的样本分组实证检验证实:企业竞争战略对全要素生产率影响的异质性存在于企业技术水平、内部控制质量及所在省份的经济政策不确定性、市场化程度等组别中。本研究基于企业生命周期理论的实证检验,对企业竞争战略影响全要素生产率机制的探讨,拓展了企业竞争战略与全要素生产率关联研究领域的边界,丰富了企业生命周期理论、企业竞争战略理论、全要素生产率理论方面的现有文献,研究结论有助于为企业在其生命周期的不同阶段通过选择不同竞争战略提高全要素生产率提供理论依据。The choice of competitive strategy for enterprises affects total factor productivity and varies depending on the stage of the enterprise s lifecycle.On the basis of constructing relevant research models based on the theories of enterprise lifecycle and competitive strategy,the author uses effective data from Chinese A-share listed companies in Shanghai and Shenzhen from 2009 to 2021 as the research sample,and uses fixed effects model,Tobit model,and instrumental variable method to empirically test the specific impact of enterprise competitive strategy on total factor productivity during the growth,maturity,and decline stages of enterprise lifecycle from differentiation strategy to cost leadership strategy.The test results confirm that in the correlation between corporate competitive strategy and total factor productivity,corporate differentiation strategy is positively correlated with total factor productivity,and corporate cost leadership strategy is negatively correlated with total factor productivity;The impact of differentiation strategy and cost leadership strategy on total factor productivity of enterprises varies at different stages of their lifecycle;Further empirical testing of sample grouping confirms that the heterogeneity of the impact of corporate competitive strategy on total factor productivity exists in groups such as technological level,internal control quality,economic policy uncertainty in the province,and degree of marketization.This study is based on empirical testing of the theory of enterprise lifecycle,exploring the mechanism of the impact of enterprise competitive strategy on total factor productivity,expanding the boundaries of research on the relationship between enterprise competitive strategy and total factor productivity,enriching existing literature on enterprise lifecycle theory,enterprise competitive strategy theory,and total factor productivity theory.The research conclusions help provide theoretical basis for enterprises to improve total factor productivity by selecting differen

关 键 词：企业生命周期 竞争战略 全要素生产率 差异化战略 成本领先战略 

分 类 号：F276.6[经济管理—企业管理]