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为考察不同的产权性质对企业获得财政补贴质与量的影响,利用570家制造业企业的一手调查数据,在控制企业政治关联、市场竞争环境以及行业效应、地区效应、企业特征的基础上,实证测度了不同产权性质下的财政补贴对企业绩效的影响。结果表明,在控制了其他变量后,国有企业比民营企业有更大的概率获得财政补贴;垄断从一定程度上加剧了这种效应,并进一步阻碍了财政补贴对企业的效率促进;财政补贴对企业绩效的影响会根据产权性质的不同而产生差异,但对不同产权类型的企业都具有显著的负面影响。
In order to study the impact of different property rights on the amount and quality of financial subsidies, by using the first-hand survey data of 570 manufacturing enterprises and on the basis of controlling the political connection, market competition environment, industry effect, regional effect and enterprise characteristics, This paper empirically tests the impact of financial subsidies on firm performance under different property rights. The results show that, after controlling for other variables, state-owned enterprises have a greater probability of obtaining financial subsidies than private-owned enterprises; monopoly to some extent exacerbated this effect and further impeded the efficiency of financial subsidies for enterprises; and financial subsidies The impact of business performance will be different according to the nature of property rights differences, but for different types of property companies have a significant negative impact.