政府补贴对国有资本配置的双重效应

发布时间：2018-01-20 01:47

本文关键词： 政府补贴国有企业国有资本配置效率政府诉求　出处：《中国社会科学院研究生院学报》2017年05期 　论文类型：期刊论文

【摘要】：政府补贴对国有资本配置存在积极与消极双重影响。本文通过对国有上市公司资本配置效率的行业效应分析,发现政府补贴对国有资本配置的积极效应强于消极效应。政府补贴作为政府的"扶持之手",一定程度上提高了国有资本配置效率或实现政府诉求,对科研与信息技术业补贴效果相对较好;对农业补贴主要实现国家战略等政府诉求;对交通运输业补贴体现效益与普遍服务的均衡。但是,政府补贴的消极效应造成企业的补贴依赖与资本错配等低效率行为,降低国有资本的配置效率。基于行业效应分析,本文认为结构性财政补贴政策有利于国有资本优化配置。
[Abstract]:Government subsidies have both positive and negative effects on the allocation of state-owned capital. This paper analyzes the industry effects of capital allocation efficiency of state-owned listed companies. It is found that the positive effect of the government subsidy on the allocation of state-owned capital is stronger than the negative effect. As the "support hand" of the government, the government subsidy to a certain extent improves the efficiency of the allocation of state-owned capital or realizes the demand of the government. The effect of subsidy to scientific research and information technology industry is relatively good; Agricultural subsidies mainly realize the national strategy and other government demands; However, the negative effects of government subsidies result in inefficient behaviors such as dependence on subsidies and mismatch of capital. Based on the industry effect analysis, this paper argues that the structural financial subsidy policy is beneficial to the optimal allocation of state-owned capital.
【作者单位】：湖南科技大学商学院;
【基金】：教育部高校人文社会科学研究项目(12YJA630073)的资助
【分类号】：F123.7;F812.45
【正文快照】： 一、引言在市场在资源配置中起决定性作用的条件下,国有资本的优化配置是政府调控经济、提供普遍服务和追求经济效益的主要手段。作为国有资本主要载体的国有企业具有与生俱来的特殊政企关系,承担政府部分政治诉求;受经济与实用主义的影响,也要实现其经济利益。在这两股力量

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