制造业服务化如何影响企业绩效和要素结构——基于上市公司数据的PSM-DID实证分析

发布时间：2018-01-02 00:14

本文关键词：制造业服务化如何影响企业绩效和要素结构——基于上市公司数据的PSM-DID实证分析　出处：《经济学动态》2017年05期 　论文类型：期刊论文

【摘要】：为回答制造业服务化如何影响企业绩效与企业要素结构的问题,本文利用我国2003-2015年制造业上市公司的数据,通过对企业基本信息和年报等资料的分析,构造了服务化的度量指标,在充分考虑内生性问题基础上,利用PSM-DID方法进行实证研究。研究发现,制造业企业通过服务业务转型显著提高了绩效,但这一效应存在所有制差异和时间滞后效应。具体表现为:整体和不同所有制企业样本中,服务化对绩效的正影响在时间上经历了"先下降、后上升"的动态变化趋势,即企业服务化后面临一段时期的绩效下滑风险;民营企业服务化对企业绩效提高的效果最为明显且持久,国有企业和外资企业服务化对绩效的影响在短期不显著,需要较长时间才能发挥作用。制造业服务化对企业要素结构的转变同样发挥了作用,服务化提高了企业的资本密集度,对劳动要素规模和结构优化未产生明显作用。本文的结论对培育制造业企业核心竞争力、供给侧结构性调整以及实现"中国制造2025"目标具有较丰富的政策含义。
[Abstract]:In order to answer the question of how service-oriented manufacturing affects enterprise performance and the structure of enterprise elements, this paper uses the data of listed manufacturing companies from 2003 to 2015 in China. Based on the analysis of enterprise basic information and annual report, this paper constructs a service-oriented measurement index. On the basis of fully considering the endogenous problem, we use the PSM-DID method to carry out empirical research. Manufacturing enterprises significantly improve their performance through the service business transformation, but this effect has ownership difference and time lag effect. The positive influence of service on performance has experienced the dynamic trend of "first decreasing, then rising" in time, that is, the enterprise faces the risk of performance decline after a period of service. The service of private enterprises has the most obvious and lasting effect on the improvement of enterprise performance, while the effect of service of state-owned enterprises and foreign-funded enterprises on the performance is not significant in the short term. It takes a long time to play a role. The service of manufacturing industry has also played a role in the transformation of the enterprise element structure, and the service has increased the capital intensity of the enterprise. It has no obvious effect on the scale and structure optimization of labor factors. The conclusion of this paper is helpful to cultivate the core competitiveness of manufacturing enterprises. Supply-side structural adjustment and realization of "made in China 2025" target has rich policy implications.
【作者单位】：暨南大学产业经济研究院;
【基金】：国家社科基金项目“现代服务业与新型城镇化互动发展的演进机制、实现途径与政策保障研究”(14BJY141) 教育部哲学社会科学重大课题攻关项目“进一步扩大服务业开放的模式和路径研究”(14JZD021)的阶段性成果
【分类号】：F406.7;F424;F832.51
【正文快照】： 一、引言与文献综述制造业是我国经济的根基所在,也是推动经济发展提质增效的主战场。改革开放以来,制造业呈现突飞猛进的发展势头,提高了我国在经济全球化格局中的分工地位。但不可忽视的是,我国制造业发展的最明显特征是“大而不强”,制造业的比较优势仍然主要体现在加工组

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