我国企业跨国并购与行业内逆向技术溢出

发布时间：2018-09-01 20:08

【摘要】：文章将BVD(Zephyr)统计的我国企业跨国并购数据与37个工业行业合并,利用我国2001~2012年37个行业数据实证检验了跨国并购是否促进了行业生产率进步。通过上述研究,我们得到以下几个结论:第一,我国企业跨国并购总体促进了行业生产率进步。第二,在不同目标国(地区)的跨国并购对行业生产率进步有不同影响。对高收入国家的跨国并购显著促进了行业生产率进步;对中低收入国家的跨国并购没有明显促进行业生产率进步;对香港地区、澳门地区和传统避税港的跨国并购没有显著促进行业生产率进步,但对其他国家和地区的跨国并购明显促进了行业生产率进步。最后,文章以行业人均产值作为生产效率的代理变量进行稳健性检验,上述结论仍然成立。
[Abstract]:This paper combines the data of transnational M & A of Chinese enterprises from BVD (Zephyr) with 37 industrial industries, and uses 37 industry data from 2001 to 2012 to test whether cross-border M & A promotes the productivity progress of the industry. Through the above research, we get the following conclusions: first, cross-border M & A promotes the industry productivity progress. Second, cross-border mergers and acquisitions in different target countries have different effects on industry productivity progress. Cross-border mergers and acquisitions in high-income countries have contributed significantly to industry productivity progress; cross-border mergers and acquisitions in low- and middle-income countries have not contributed significantly to industry productivity progress; and to Hong Kong, Cross-border mergers and acquisitions in Macao and traditional tax havens have not significantly promoted the improvement of industry productivity, but to other countries and regions, cross-border mergers and acquisitions have significantly promoted the improvement of industry productivity. Finally, the paper uses the per capita output value of the industry as the proxy variable of production efficiency to test the robustness, and the above conclusion is still valid.
【作者单位】：厦门大学经济学院;
【基金】：自然科学基金面上项目“中国企业海外并购与产业国际竞争力研究”(项目批准号:71273142);自然科学基金青年项目“中国企业对外直接投资的贸易效应和就业效应”(项目批准号:71503221)的阶段性成果
【分类号】：F279.2;F271

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