摘要
明确产业链链长制对企业异地投资决策的作用机制,能够为优化链长制政策设计与增强产业链韧性提供重要的经验依据。以2010—2023年A股上市公司为研究样本,实证检验产业链链长制对企业异地投资决策的影响。研究发现,产业链链长制促进了企业跨市投资,但对跨省投资没有显著影响。机制检验表明,产业链链长制通过降低企业交易成本、减弱政策不确定性感知、提升供应链网络位置促进企业跨市投资。异质性分析显示,当地区数字产业基础好、行业竞争度高及企业金融资源多时,政策效应更显著。拓展性分析表明,由省级领导担任链长更能促进企业跨市投资,且该政策有助于增强产业链韧性与产业集聚。
Clarifying the mechanism through which the Industrial Chain Leader System influences enterprises'cross-regional investment decisions could provide important empirical evidence for optimizing the design of the Leader System policy and enhancing industrial chain resilience.Using the sample of A-share listed enterprises from 2010 to 2023,this research empirically examined the impact of the Industrial Chain Leader System on enterprises'cross-regional investment decisions.The study found that the Industrial Chain Leader System promoted enterprises'inter-city investment,but had no significant effect on inter-province investment.Mechanism tests indicated that the Industrial Chain Leader System promoted enterprises'inter-city investment by reducing transaction costs,alleviating perceived policy uncertainty,and enhancing enterprises'positions within the supply chain network.Heterogeneity tests revealed that the policy effect was more pronounced in regions with a higher level of digital industry development stronger industry competition,and a larger number of banks surrounding enterprises.Furthermore,assigning provincial leaders as chain chiefs was more conducive to boosting inter-city investment.Additionally,the policy contributed to strengthening industrial chain resilience and fostering industrial agglomeration.
作者
梁小甜
洪金明
LIANG Xiao-tian;HONG Jin-ming(Graduate School,Chinese Academy of Fiscal Sciences,Beijing 100142;Research Center for Financing and Accounting.Chinese Academy of Fiscal Sciences,Beijing 100142,China)
出处
《山西财经大学学报》
2026年第1期64-76,共13页
Journal of Shanxi University of Finance and Economics
基金
国家自然科学基金应急项目(72541015)
国家社会科学基金青年项目(25CJY032)
国家统计局优选项目(2023LY022)
陕西省教育委员会基金项目(21JK0410)。
