行政案件集中管辖能否促进企业投资?  

Can Centralized Jurisdiction of Administrative Cases Promote Enterprise Investment?

作　　者：余丽甜 YU Litian

机构地区：[1]上海立信会计金融学院立信研究院

出　　处：《社会科学》2024年第12期123-134,175,共13页Journal of Social Sciences

摘　　要：良好的法治不仅可以保护私人产权,而且还有助于约束政府行为,避免政府对市场的过度干预。基于2010—2019年上市公司数据,考察了行政案件集中管辖这一加强对地方政府行为约束的司法改革如何影响企业固定资产投资。研究发现,该改革显著促进了企业固定资产投资,使得样本企业的固定资产投资率平均提高了16.3%。并且,该影响在非国有企业和改革模式更为彻底的地区(中级法院或铁路法院集中管辖模式)更强。在进行了平行趋势检验、安慰剂检验、排除同时期政策影响以及政策实施预期的影响等一系列稳健性检验之后,该研究结论依然成立。进一步机制分析发现,该改革加强了对企业产权和利益的保护,使得企业关系投资支出下降;同时,抑制了地方政府过度管制经济的行为,体现为行政壁垒的下降。这表明,地方司法体系审判独立性的提高能够发挥监督和约束地方政府的作用,促进有为政府和有效市场更好形成发展合力。A good judicial system not only curtails the government's inclination to infringe upon private property rights, but also helps to check the excessive expansion of government power, thereby preventing undue intervention in the market. Using data from listed companies in China between 2010 and 2019, this paper studies how the reform of relatively centralized jurisdiction of administrative cases(RCJA), which enhances the local judicial system's oversight of local government behavior, affects enterprises' fixed assets investment. We find that RCJA has significantly promoted enterprises' fixed assets investment. Moreover, this effect is particularly pronounced in non-state-owned enterprises and in regions that have adopted more comprehensive reform models(centralized jurisdiction models of intermediate courts and railway courts). After conducting a series of robustness tests, including parallel trend test, placebo test, excluding the impact of contemporaneous policies, and the expected impact of policy implementation, these findings still hold true. Further mechanism analysis reveals that RCJA can effectively protect the property rights and interests of enterprises, reflected as a decrease in enterprise bribery expenses;At the same time, it has suppressed the excessive regulation of the economy by local governments,reflected in the reduction of administrative barriers. These results suggest that an independent local judicial system can play a critical role in supervising and restraining local government actions, fostering effective governance and promoting the development of a market economy.

关 键 词：行政案件集中管辖 地方政府行为约束 企业投资 

分 类 号：F061.3[经济管理—政治经济学]