【摘要】 改善资源配置效率对于转变中国经济发展方式具有重要的作用,而企业作为配置资源的微观主体,其内部资源的配置效率问题一直未得到足够的关注。基于多产品异质企业贸易理论,利用中国海关数据库和中国工业企业数据库,深入探讨融资约束对企业内部资源配置效率的影响及其作用机制,以期为改善中国资源配置效率提供更多的理论支撑和实现途径。结果显示,融资约束会显著降低企业内资源配置效率,并且这一结论在不同所有制企业、不同地区企业、不同贸易形式企业、不同要素密集度行业的企业中存在显著的异质性;在机制检验中,融资约束主要通过降低企业的出口规模和出口产品集中度来降低企业内资源配置效率。更多还原

【Abstract】 Improving the efficiency of resource allocation has an important role in transforming the driving force of economic development of China. Enterprises are the microscopic subject of resource allocation,but the problem of the efficiency of re source allocation within the enterprise has not always received enough attention. Based on the trade theory of multi product het erogeneous enterprises,this paper uses the China Customs Database and China Industrial Enterprise Database to explore the impact of financing constraints on the efficiency of resource allocation within the enterprise and its mechanism,which might provide more theory and implementation for improving the efficiency of resource allocation. The results show that financing con straints reduce the efficiency of resource allocation within the enterprise. This conclusion has significant heterogeneity among enterprises in different ownerships,regions,forms of trade and factor intensiveness industries. The impact of financing con straints on the efficiency of resource allocation within the enterprise is achieved by reducing the export scale and concentration of export products.更多还原