山东省上市公司对区域经济发展贡献的研究

发布时间：2018-07-25 14:26

【摘要】：20世纪70年代末期以来的中国经济改革大潮,推动了资本市场在我国境内的萌生和发展。经过数十年的发展,我国资本市场的规模不断壮大,制度不断完善,已经由一个摸索尝试市场转变为中国市场经济体系中的一个重要组成部分,成为推动所有制变革和改进资源配置方式的重要力量。随着我国资本市场的不断发展,上市公司作为市场主体也不断发展壮大。从理论上讲,上市公司本身具有的制度优势和融资渠道方面的优势,使得上市公司一般成为行业内或者地区的佼佼者,从而对区域经济发展有着举足轻重的地位。山东省是沿海经济大省,GGDP总量位居全国第三,而且山东省股票发行起步较早,1993年青岛啤酒已在上海证券交易所挂牌交易。经过近二十年的发展,截至2010年底,山东省已有130家公司的134只股票在沪深交易所上市,但是山东省上市公司的整体发展水平与其他经济实力相当的省份相比,特别是与广东省相比,还有很大的差距,规模小、成长性差、产业分布不合理等问题尤为突出。那么,山东省上市公司对地方经济发展是否有促进作用,或者这种促进作用有多大。本文试图通过理论与实证相结合的方法,清楚反映山东省上市公司对区域经济发展的贡献。本文首先总结了国内外有关上市公司与区域经济发展关系的研究成果；其次,系统描述了山东省经济和上市公司的发展现状,并通过与其他几个省份的比较,对山东省上市公司的发展有了清晰的定位；然后切入到论文的主体部分,在对上市公司促进区域经济发展进行理论分析的基础上,从GDP贡献、税收贡献、解决就业三个方面测算了山东省上市公司对区域经济发展的贡献。本文在山东省上市公司对GDP贡献的研究中,从直接贡献和间接贡献两个角度测算了山东省上市公司对GDP的贡献。在山东省上市公司对GGDP的直接贡献研究中,引入了上市公司增加值概念,测算了上市公司增加值占GDP的比重以及上市公司增加值对GDP增长率的贡献。上市公司的间接贡献主要是指上市公司投资活动通过乘数效应引起相关产业或部门的协同增长。本文利用投资乘数和上市公司的投资数据,测算了山东省上市公司对GDP的间接贡献。从测算的结果看,从2006年到2010年,山东省上市公司增加值增长速度较高,但是山东省上市公司增加值占GDP的比重还很小,这说明山东省上市公司对山东省经济发展做出了一定贡献,但是贡献还不显著。山东省上市公司通过乘数效应对GDP做出的贡献要高于其本身创造的增加值对GDP做出的贡献。另外,从各地市的情况看,山东省各地市上市公司对GDP的全部动态贡献起伏较大,没有一个地市的上市公司一直拉动经济增长。
[Abstract]:The spring tide of China's economic reform since the late 1970s has promoted the emergence and development of the capital market in China. After decades of development, China's capital market has grown in scale and its system has been continuously improved. It has changed from a trial market to an important part of China's market economy system. To promote ownership reform and improve the allocation of resources an important force. With the development of capital market in China, listed companies as the main body of the market are also growing. Theoretically speaking, the listed company itself has the system superiority and the financing channel aspect superiority, causes the listed company to become the profession or the regional leader generally, thus has the pivotal position to the regional economic development. Shandong Province has the third largest gross domestic product (GDP) in the coastal economy, and the stock issue of Shandong Province started early. In 1993, Tsing Tao Beer was listed on the Shanghai Stock Exchange. After nearly 20 years of development, by the end of 2010, 134 stocks of 130 companies in Shandong Province had been listed on the Shanghai and Shenzhen Stock Exchange, but the overall level of development of listed companies in Shandong Province was compared with that of other provinces with comparable economic strength. Compared with Guangdong Province, there are many problems, such as small scale, poor growth and unreasonable industrial distribution. So, Shandong Province listed companies to promote local economic development, or how much this promotion. This paper attempts to reflect clearly the contribution of listed companies in Shandong Province to the development of regional economy through the combination of theory and practice. This paper first summarizes the research results of the relationship between listed companies and regional economic development at home and abroad. Secondly, it systematically describes the development status of Shandong economy and listed companies, and compares them with other provinces. The development of listed companies in Shandong Province has a clear positioning, and then cut into the main part of the paper, on the basis of theoretical analysis of the listed companies to promote regional economic development, from the contribution of GDP, tax contribution, The contribution of listed companies in Shandong Province to regional economic development is estimated from three aspects of employment. In the study of the contribution of listed companies to GDP in Shandong Province, this paper estimates the contribution of listed companies to GDP from the perspective of direct contribution and indirect contribution. In the study of the direct contribution of listed companies to GGDP in Shandong Province, the concept of added value of listed companies is introduced, and the proportion of added value of listed companies in GDP and the contribution of added value of listed companies to the growth rate of GDP are calculated. The indirect contribution of listed companies mainly refers to the synergistic growth of related industries or departments caused by the investment activities of listed companies through multiplier effect. Based on the investment multiplier and the investment data of listed companies, this paper calculates the indirect contribution of listed companies to GDP in Shandong Province. From the results of the calculation, from 2006 to 2010, the increase rate of added value of listed companies in Shandong Province is relatively high, but the proportion of added value of listed companies in GDP in Shandong Province is still very small. This shows that the listed companies in Shandong Province have made some contributions to the economic development of Shandong Province, but the contribution is not significant. The contribution of Shandong listed companies to GDP through multiplier effect is higher than that of added value created by themselves to GDP. In addition, from the situation of each prefecture and city, the whole dynamic contribution of listed companies to GDP in Shandong Province is fluctuating greatly, and none of the listed companies in prefectural cities has been driving the economic growth.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F127

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