本文選題：國有批發(fā)業(yè) + 全要素生產率��； 參考：《財貿經濟》2016年02期

【摘要】：截至目前,絕大多數(shù)的經濟學文獻仍然集中于國有企業(yè)缺乏微觀效率這一研究共識。而在近期研究中,對國有企業(yè)微觀效率的肯定論調開始明顯增多,但現(xiàn)有的經驗研究多以工業(yè)數(shù)據(jù)為分析樣本。在納入流通業(yè)樣本并在工業(yè)、流通業(yè)中展開跨行業(yè)比較的視角下,本文對國有企業(yè)的微觀效率展開了多角度的實證評判。通過綜合分析主要財務指標,以及應用DEA-Malmquist指數(shù)進行全要素生產率的比較測度,本文發(fā)現(xiàn),國有企業(yè)在整體上并不具有效率劣勢,其效率優(yōu)勢在流通業(yè)領域相比在工業(yè)領域表現(xiàn)得更為明顯,而批發(fā)業(yè)中國有資本的高占比與高效率并存的現(xiàn)象尤其值得關注。本文進而以案例分析法揭示了國有批發(fā)企業(yè)的重資產運營與其盈利追趕過程之間的正向關聯(lián)。研究啟示在于,國有資本的進退決策需要結合行業(yè)特征進行審慎權衡。在國有資本相對具有更高效率的批發(fā)流通領域,可以通過"增資擴容"來放大國有資本的功能,不宜輕易做出國有資本應加快退出的論斷,也不宜過度追求輕資產運營的財務目標。
[Abstract]:Up to now, most of the economic literature is still focused on the lack of micro-efficiency of state-owned enterprises. In recent studies, the positive arguments on the micro-efficiency of state-owned enterprises began to increase obviously, but most of the existing empirical studies take the industrial data as the analysis sample. From the perspective of cross-industry comparison in industry and circulation industry, this paper makes a multi-angle empirical evaluation on the micro-efficiency of state-owned enterprises. Based on the comprehensive analysis of the main financial indicators and the comparative measurement of total factor productivity with DEA-Malmquist index, this paper finds that the state-owned enterprises do not have an efficiency disadvantage on the whole. The efficiency advantage is more obvious in the circulation field than in the industrial field, and the phenomenon that the high proportion of the state-owned capital and the high efficiency coexist in the wholesale industry is especially worthy of attention. This paper further reveals the positive correlation between the heavy assets operation of state-owned wholesale enterprises and the process of profit catch-up by case analysis. The implication of the research is that the state-owned capital decision-making needs to be weighed carefully according to the characteristics of the industry. In the field of wholesale circulation with relatively high efficiency of state-owned capital, the function of state-owned capital can be enlarged by "increasing capital and expanding capacity", and it is not easy to make the conclusion that state-owned capital should withdraw more quickly. Also should not excessively pursue the financial target of light assets operation.
【作者單位】： 中國人民大學商學院;
【基金】：中國人民大學科學研究基金(研究品牌計劃)資助項目“國內貿易活動的基礎理論綜合與研究方法創(chuàng)新”(13XNI009)
【分類號】：F724.1
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本文編號：1876822