国资监管改革与国有企业供应链效率——来自两类公司设立的经验证据  

State-owned Asset Supervision Reform and Supply Chain Efficiency of State-owned Enterprises:Empirical Evidence from the Establishment of Two Types of Companies

作　　者：独正元 彭佑元[1] 郭檬楠 DU Zhengyuan;PENG Youyuan;GUO Mengnan(School of Economics and Management,North University of China,Taiyuan 030027,China;School of Accounting,Shanxi University of Finance and Economics,Taiyuan 030006,China)

机构地区：[1]中北大学经济与管理学院,山西太原030027 [2]山西财经大学会计学院,山西太原030006

出　　处：《中南财经政法大学学报》2025年第2期29-40,共12页Journal of Zhongnan University of Economics and Law

基　　金：教育部人文社会科学研究青年基金项目“链主国企引领链属民企创新能力提升的双端溢出效应与机制研究”(24YJC630038);山西省高等学校哲学社会科学研究项目“深化国企混改对山西省供应链韧性的影响与机制研究”(2023W083)。

摘　　要：本文以2009—2022年沪深A股国有上市公司为链主的供应链组合为研究样本,基于两类公司(国有资本投资公司和国有资本运营公司)的设立事件,采用多期双重差分法考察国资监管改革对国有企业供应链效率的影响。研究结果表明,国资监管改革能够显著提升国有企业供应链效率;机制检验结果表明,国资监管改革能够通过减轻政府干预和强化监督治理提升国有企业供应链效率;拓展性检验结果表明,国资监管改革对前端供应链效率的提升效应更为明显,且国资监管改革对供应链效率提升的正向作用在市场分割程度较高地区更显著。本文研究不仅为全面深化国资监管改革、释放国有企业链主效能提供了理论支持和经验证据,而且对建设全国统一大市场、提高供应链效率具有政策启示。This paper takes the supply chain portfolio of Shanghai and Shenzhen A-share state-owned listed companies which as the chain owner from 2009 to 2022 as the research sample,and based on the establishment events of two types of companies(state-owned capital investment companies and state-owned capital operation companies),adopts the multi-period DID method to examine the impact of the state-owned asset supervision reform on the supply chain efficiency of state-owned enterprises.The results of the study show that the state-owned asset supervision reform can significantly improve the supply chain efficiency of state-owned enterprises;the results of the mechanism test show that the state-owned asset supervision reform can improve the supply chain efficiency of state-owned enterprises by reducing government intervention and strengthening supervision and governance;the expansive test results show that the enhancement effect of the state-owned asset supervision reform on the front-end supply chain efficiency is more obvious and the positive effect of the state-owned asset supervision reform on the supply chain efficiency of state-owned enterprises is greater in the region with higher degree of market segmentation.This paper not only provides theoretical support and empirical evidence for comprehensively deepening the state-owned assets supervision reform and releasing the efficiency of state-owned enterprises′chain owners,but also has policy implications for the construction of a unified national market and improving supply chain efficiency.

关 键 词：国资监管改革 国有企业 供应链效率 两类公司 市场分割 

分 类 号：F276.1[经济管理—企业管理]