“亩均论英雄”改革与企业高质量发展——基于效率变革和动力变革的视角  

“Area-based Evaluation Mechanism” Reform and Enterprise High-quality Growth: Perspectives on Efficiency and Momentum Changes

作　　者：王正新 严祥武 WANG Zhengxin;YAN Xiangwu(School of Economics,Zhejiang University of Finance&Economics)

机构地区：[1]浙江财经大学经济学院

出　　处：《数量经济技术经济研究》2024年第12期155-176,共22页Journal of Quantitative & Technological Economics

基　　金：浙江省哲学社会科学规划重大课题(22QNYC17ZD)的资助。

摘　　要：作为地方政府优化资源配置、推动高质量发展的一项制度创新,“亩均论英雄”改革正从浙江实践探索走向全国推广。本文基于高质量发展的核心要义,从效率变革和动力变革的视角探究了“亩均论英雄”改革影响企业高质量发展的理论逻辑,并检验了该项改革对企业全要素生产率的因果效应。结果显示,“亩均论英雄”改革使样本企业全要素生产率平均提高了0.059个单位,相对于标准差平均提高了6.563%。主要机制在于,改革一方面通过加快低效企业退出市场等反向倒逼措施推动效率变革,另一方面通过降低企业融资约束等正向激励措施促进动力变革,进而提高企业全要素生产率。异质性分析表明,“亩均论英雄”改革对低竞争行业、劳动密集型和资本密集型企业的全要素生产率有显著的正向作用,而对高竞争行业和技术密集型企业的影响不显著。拓展分析发现,“亩均论英雄”改革在提高企业经济增加值和海外收入占比的同时,也缩小了企业内部薪酬差距。本研究不仅为“亩均论英雄”改革推动企业质量变革提供了实证支持,还为制定更加科学合理、因地制宜的改革政策提供了参考依据。The “Area-based Evaluation Mechanism”(ABEM) reform is a significant institutional innovation by local governments in China to optimize resource allocation and promote high-quality growth.This reform was first implemented in 2006 in Keqiao District, Shaoxing City, Zhejiang Province. It introduced the concept of “yield per acre” from agriculture into the industrial sector, making “per acre performance” a crucial indicator of resource allocation. It aimed to prioritize allocating scarce resources, such as land, capital, and energy, to high-efficiency enterprises, while pressuring low-efficiency enterprises to exit the market. In recent years, this reform has gradually expanded from local practices in Zhejiang to a nationwide initiative, becoming a key measure for local governments to improve economic quality and efficiency. Although enterprises are the direct subjects of “per acre performance” evaluation and experiencing the most immediate and profound impacts of the reform, related research remains relatively sparse. As critical entities in economic development, how enterprises explore paths to highquality growth under the incentives and pressures brought by the reform not only affects the success of the reform itself but also serves as an important benchmark for assessing the depth of the reform and the effectiveness of high-quality economic growth We analyze the theoretical logic of how ABEM influences high-quality enterprise growth from the perspectives of efficiency and momentum changes, grounded in the core principles of high-quality growth. We use panel data on listed companies in Jiangsu, Zhejiang, and Shanghai from 2005 to 2017.We employ a gradual difference-in-differences method to identify the causal effects of the reform on firms' total factor productivity(TFP). The results reveal that the ABEM reform led to an average increase of 0.059 units in TFP, translating to an average increase of 6.563% relative to the standard deviation. The transmission mechanisms are that the reform promotes ef

关 键 词：“亩均论英雄”改革 效率变革 动力变革 质量变革 平行趋势非线性违背 

分 类 号：F270.3[经济管理—企业管理]