地方产业政策对专用性投资的行业异质性影响——来自农林牧渔业和农产品加工业的证据  

The Industry Heterogeneity Effect of Local Government Industrial Policies on Specific Investment——Evidence from Agriculture,Forestry,Animal Husbandry,Fishery,and Agricultural Product Processing Industry

作　　者：李子婕 何玉成[1] 张倩 LI Zi-jie;HE Yu-cheng;ZHANG Qian(School of Economics and Management,Huazhong Agricultural University,Wuhan 430070,China;Foreign Economic Cooperation Center,MARA,P.R.China,Beijing 100125,China)

机构地区：[1]华中农业大学经济管理学院,湖北武汉430070 [2]农业农村部对外经济合作中心,北京100125

出　　处：《经济问题》2024年第10期122-128,F0003,共8页On Economic Problems

基　　金：现代农业产业技术体系建设专项“国家中药材产业技术体系项目”(CAR-21);国家自然科学基金项目“集中度对乳品供应链垂直协作关系影响的程度与实证研究”(71573098)。

摘　　要：通过2008—2022年我国沪深A股上市的农林牧渔业和农产品加工业企业数据以及省级层面政策文本量化数据,实证检验了地方产业政策对专用性投资的行业异质性影响。研究结果表明:第一,地方产业政策正向影响农林牧渔业企业的专用性投资,负向影响农产品加工业企业的专用性投资。第二,随着专用性投资的强度越大,地方产业政策促进农林牧渔业企业专用性投资的边际作用越大,抑制农产品加工业企业专用性投资的边际作用也越大。第三,农林牧渔业和农产品加工业的企业研发投入比重和企业不确定性差异是导致地方产业政策效果异质性的重要原因。因此,政府部门应根据细分行业的特点和差异设计产业政策,提高产业政策的针对性和精准性。This article empirically verifies the industry heterogeneity effect of local government industrial policies on specific investment through data from agricultural,forestry,animal husbandry,fishery,and agricultural product processing industry enterprises listed on the Shanghaiand Shenzhen A-shares in China from 2008 to 2022,as well as quantitative data from provincial-level policy texts.The research results indicate that firstly,local government industrial policies have a positive impact on the specific investment of agricultural,forestry,animal husbandry,and fishery enterprises,while a negative impact on the specific investment of agricultural product processing industry enterprises.Secondly,as the intensity of specific investment increases,the marginal effect of local government industrial policies on promoting specific investment in agriculture,forestry,animal husbandry,and fishery enterprises is greater,and the marginal effect on inhibiting specific investment in agricultural product processing industry enterprises is also greater.Thirdly,the difference in the proportion of R&D investment and uncertainty among enterprises in agriculture,forestry,animal husbandry,fishery,and agricultural product processing industries is an important reason for the heterogeneity of local government industrial policy effects.Therefore,government departments should design industrial policies based on the characteristics and differences of segmented industries,and improve the pertinence and accuracy of industrial policies.

关 键 词：地方产业政策 专用性投资 行业异质性 农业上市企业 政策文本分析 

分 类 号：F323.9[经济管理—产业经济]