虚拟集聚与制造企业出口市场组合风险  

Virtual Agglomeration and Export Risk Portfolios of Manufacturing Firms

作　　者：尹丽丽 王庭东[1] YIN Lili;WANG Tingdong(School of International Trade and Economics,Shandong University of Finance and Economics,Jinan,Shandong,250002)

机构地区：[1]山东财经大学国际经贸学院,山东济南250002

出　　处：《国际商务（对外经济贸易大学学报）》2024年第6期39-60,共22页INTERNATIONAL BUSINESS

摘　　要：构建有效市场组合是推动外贸稳定发展的重要保障。本文考察了虚拟集聚对企业出口市场组合风险的影响效应及内在机制。研究发现:虚拟集聚显著降低了企业出口市场组合风险,且降低效应对行业内前沿技术企业、一般贸易型企业以及东部区域企业更为突出。机制检验发现:虚拟集聚可以从出口产品创新和出口市场配置双重层面发挥边际调整效应,在产品层面通过提高产品类别和质量,以高质多元的产品结构规避贸易条件恶化;在市场层面通过扩大出口范围和降低多元化程度,促进市场向低风险边界转移。“收益—风险”权衡表明,虚拟集聚在一定程度上兼具“规模扩张—风险降低”的双重效应;虚拟集聚来源差异检验表明,本国数字要素是虚拟集聚降低出口市场风险的现实动力。Building an effective market portfolio is an important guarantee to promote the stable development of foreign trade.This paper examined the impact and mechanism of virtual agglomeration on enterprises'export market portfolio risk.It is found that virtual agglomeration significantly reduces the risk of enterprise export market portfolio,and the reduction effect is more prominent for frontier technology enterprises in the industry,general trade-oriented enterprises and enterprises in the eastern region.Mechanistically,virtual agglomeration can play a role in the dual marginal adjustments of export product innovation and export market allocation,at the product level,it can circumvent the deterioration of the terms of trade with a high-quality and diversified product structure by improving the category and quality of products;and at the market level,it can promote the market shift to the low-risk frontier by expanding the scope of exports and reducing the depth of diversification.Further,the"benefit-risk"trade-off analysis suggests that virtual agglomeration has a certain degree of both"scale expansion-risk reduction"effects;and the test of differences in the sources of virtual agglomeration suggests that the home country's digital factors are the main source of virtual agglomeration's risk reduction.

关 键 词：虚拟集聚 出口市场组合风险 企业产品创新 出口市场配置 

分 类 号：F752.6[经济管理—国际贸易]