摘要
环境规制强度提升和企业规模扩张是实现"使环境改善与经济发展实现双赢"战略目标的重要内容。在厘清环境规制对企业规模的影响及其微观机制的基础上,以2003-2013年中国制造业企业数据为研究样本,从整体层面系统评估了环境规制对企业规模的影响及其影响途径。研究发现:环境规制与企业规模扩张呈现"U"型关系,即较低强度的环境规制抑制了企业规模扩张,而超过一定强度的环境规制则有助于企业规模扩张。多个稳健性检验表明,环境规制与企业规模扩张的"U"型关系是可靠的。影响机制检验表明,环境规制通过影响企业融资成本、市场份额以及生产率等途径对企业规模构成影响。异质性检验表明,环境规制对企业规模的影响呈现一定的地区差异。研究证明,地方政府对于环境规制执行将抑制本地企业规模扩张的设想是不合理的。地方政府在提升环境规制强度推进环境污染治理的同时,应致力于降低企业融资成本,推动企业依靠提升市场份额以及优化生产率实现企业规模扩张。
The enhancement of environmental regulation intensity and firm scale expansion is an important part of the strategic goal of "making environmental improvement and economic development achieve a win-win situation".Based on clarifying the impact of environmental regulation on firm scale and its micro-mechanism,this paper takes the data of Chinese manufacturing firms from 2003 to 2013 as the research sample,and systematically evaluates the overall impact of environmental regulation on firm scale and its influencing ways.The research finds that:the relationship between environmental regulation and firm scale expansion is u-shaped,that is,the low intensity of environmental regulation inhibits the expansion of firm scale,while the regulation beyond a certain intensity helps the expansion of firm scale.Multiple robustness tests show that the u-shaped relationship between environmental regulation and firm scale expansion is reliable.The test of impact mechanism shows that environmental regulation affects the firm scale by influencing the financing cost,market share and productivity.The heterogeneity test shows that the influence of environmental regulation on firm scale has certain regional difference.Studies have shown that the assumption of local government that environmental regulation execution will restrain local firm scale expansion is unreasonable. Therefore, the local government should, on the one hand, promote both environmental regulation intensity and environmental pollution control, and on the other hand, reduce the firm financing costs and promote firm scale expansion by increasing market share and optimizing productivity.
作者
徐保昌
潘昌蔚
李思慧
XU Bao-chang;PAN Chang-wei;LI Si-hui
出处
《中国地质大学学报（社会科学版）》
CSSCI
北大核心
2020年第2期74-91,共18页
Journal of China University of Geosciences(Social Sciences Edition)
基金
国家自然科学基金青年项目“国内市场整合对制造业企业成长的影响研究:理论机制与实证检验”(71903105)
山东省社会科学规划项目“环境规制强度提升背景下山东省制造业企业成长研究”(18DJJJ09)
山东省自然科学基金资助项目“国内市场分割对制造业企业成本加成提升的影响研究”(ZR2018BG009)。
关键词
环境规制
企业规模
企业融资成本
市场份额
生产率
environmental regulation
firm scale
firm financing cost
market share
productivity
